Asos expects £14m hit from halting trade in Russia after invasion of Ukraine

Fashion retailer swings from 106m profit to 16m loss in six months to February, while share prices rise

• Russia-Ukraine war: latest updates

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 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 to relax in while stuck at home.