ASOS sees stellar growthTuesday, 09 November 2010
Gross profit increased by 43% to £57.8 million. Profit before tax was £7 million, up 59%. Recent company developments have included the launch of the US website in September ASOS mobile and French and German websites in October.
Nick Robertson, CEO, commented: "I am pleased to report a strong set of results for the first half with both our UK and International businesses performing well. Since the period end we have launched our French and German websites which, coupled with our US site launch in September, are all key milestones in our International expansion programme.
Our retail margin recovered strongly over the period (+280 bps) and our profit before tax increased 59% to £7m.
In anticipation of continued strong growth, we have maintained our programme of investment, specifically around resource, logistics and our technical capabilities.
As we head into the important Q3 trading period, we remain positive about the outlook for the second half and expect our full year results to be in line with market expectations".
Image: ASOS LTD100