Business
Ent. Marketing to close
Ent. Marketing to close.
About this update from Asos Plc
[{"type":"text","content":"\n ASOS PLC\n02 February 2007\n\n\nASOS PLC\nFOR RELEASE\n7.00 AM\n2 February 2007\n\n\n ASOS plc\n ('ASOS' or 'Group')\n (Leading online fashion retailer)\n\n Entertainment Marketing to close on 31 March 2007\n\n\nThe board of ASOS announces that it has decided to close Entertainment Marketing\n(UK) Limited, its marketing services company, on 31 March 2007.\n\nThe closure will result in an exceptional non cash charge, in the year ended 31\nMarch 2007, of £188,810 relating to the write off of goodwill. In addition there\nwill be further costs of approximately £50,000 associated with the winding up of\nthe business.\n\nIn the year ended 31 March 2006, Entertainment Marketing (UK) Limited reported a\nloss before tax of £14,781 on turnover of £601,127.\n\nNick Robertson, the Chief Executive of ASOS, commented:\n\n'Although Entertainment Marketing was the original business it is no longer\nrelevant to the long term future of the Group. The board has decided that this\nis the appropriate time to close the business and focus all of management's\nattention on the significant growth opportunities within ASOS.com.'\n\n\n\nASOS plc\n\nNick Robertson, Chief Executive Tel:020 7240 7070\nJon Kamaluddin, Finance Director\nWebsite: www.asos.com\n\nCubitt Consulting\nBrian Coleman-Smith / Leanne Denman Tel:020 7367 5100\n\nSeymour Pierce\nMark Percy / Nicola Marrin Tel:020 7107 8000\n\n\nBackground note:\n\nASOS plc is an Internet Retail and Marketing Services Group, established in June\n2000 and admitted to AIM in October 2001. Its principal business is ASOS.com, a\nleading online fashion and beauty retailer. Aimed primarily at an Internet savvy\n18-34 year old, ASOS had over 1.15 million registered users at 12 January 2007\nand offers over 4000 products across womenswear, menswear, footwear,\naccessories, jewellery and beauty.\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange\n \n ","length":2313,"tagName":"div"}]