By  on April 10, 2019

LONDON — Asos has seen a dramatic drop in its pre-tax profit for the first half, but remains positive it will get back on track by the end of the year.

According to the company’s latest trading update, pre-tax profits tumbled 87 percent to 4 million pounds for the six months to February, as opposed to 29.9 million pounds in the same period last year. On a net basis, however, Asos plunged deeply into the red, with a loss of 37.9 million pounds versus a net profit of 37.7 million pounds in the same period a year ago.

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