MoPh Markets

Asos, Hargreaves Lansdown, MADE.com, Audioboom: Morning Roundup

Monday marks a new week on the calendar, and London stocks have opened relatively higher. The FTSE 100 is currently up 0.21%, and the FTSE 250 has gained 0.39%. The Pound has also risen this morning as the new chancellor moves to calm the markets.

Read more on the latest developments across London-listed stocks.

Asos

  • Asos responded to recent media reporting on Monday.
  • Asos confirms that it is in the final stages of agreeing an amendment to the future financial covenants in its Revolving Credit Facility, which matures in July 2024.
  • This action will give Asos significantly increased financial flexibility against a difficult economic backdrop.
  • Asos shares are down 5.84%.

Hargreaves Lansdown

  • Hargreaves Lansdown reported its trading update for its first quarter.
  • The company stated net new client growth increased by 17,000 in the period, taking its active clients to 1,754,000 and a client retention of 92.2%.
  • In addition, revenue was up15% to £162.9 million.
  • Finally, the group raised its FY23 revenue margin guidance to 49-52bps.
  • Shares of Hargreaves fell 5% this morning.

MADE.com

  • The board of MADE has provided an update on its formal sale process.
  • The board of MADE has received a number of non-binding indicative proposals.
  • As a result, the company has invited a select number of parties to progress towards firm offers by the end of October.

Audioboom

  • Audioboom has provided a trading update for the quarter that ended on 30 September.
  • Total revenue for the nine months was $57.1 million, up 44% compared to the prior year.
  • Total adjusted EBITDA profit increased 125% to $2.7 million.
  • Elsewhere, the group saw average Q3 monthly downloads of 107.5 million, up 9%.
  • Audioboom shares gained 2% so far.

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