ASOS reports profit growth

ASOS, the online fashion retailer, has reported a rise in full-year profits and an auspicious start to the first quarter. Previously known as As Seen On Screen, the company said that profit before tax, amortisation and goodwill increased by a whopping 77 per cent to £1.1 million during fiscal year ended 31 March.

Sales for the year surged forward, increasing by 79 per cent to £13.5 million. Meanwhile, first quarter sales are expected to surpass last year's by over 100 per cent. The company is now faced with a quieter summer, a warehouse move and an important pending Christmas season. However, it stated that it remains confident of another strong year.