The online fashion retailer Asos expects to take a £14m hit to its profits and a 2% reduction in growth, following its decision to stop trading in Russia in response to Moscow’s invasion of Ukraine.
The forecast came as the company swung to a £15.8m pre-tax loss in the six months to the end of the February, compared with a £106.4m profit a year earlier, when it was among the internet retailers benefiting from the lockdown e-commerce boom as shoppers stocked up on leisurewear while stuck at home.
