ASOS sees stellar growth

Tuesday, 09 November 2010
ASOS sees stellar growthASOS reported its retail sales were up 50% to £131.4 million with UK retail sales up 26% to £82.4 million. Further growth was driven by international sales for the 6 months ended 30 September 2010, which grew massively to £48.9 million, up 120%.

Gross ASOS sees stellar growthprofit 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

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