British online fashion retailer Asos reported a 50% first-half profit surge on Wednesday, driven by cost cuts and app improvements, sending shares up more than 14%. Gross merchandise value fell 9% YoY, though the UK — its largest market — declined just 5%. Adjusted gross margin climbed 330 basis points to 48.5%, with adjusted EBITDA up approximately 50% YoY. The company reaffirmed its full-year EBITDA guidance of 150 million pounds to 180 million pounds ($201 million to $241 million).

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