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BUZZ-ASOS: H1 beat gives shares a fillip

Reuters - UK Focus

** Online fashion retailer ASOS (LSE: ASC.L - news) up 5 pct after posts H1 pretax profit at 18 mln pounds vs analysts' avg forecast of 16.3 mln pounds

** Co confident of in-line FY profit & margin

** Stock shed about a quarter of its value over past yr (co issued 3 profit warnings in 2014), yet trades on lofty 1-yr fwd PE of 90x

** Liberum repeats "sell" rating, citing valuation as a key concern (RM (LSE: RM.L - news) : tricia.wright1.thomsonreuters.com@reuters.net)