Profits continue to rise at ASOS
16 November 2009 09:29
ASOS has seen a 9% rise in pre-tax profits as a strong first half performance paved the way for an "encouraging start" to the second half. In the six months ended September 30th, total sales grew 47%, led by a 112% increase in international sales compared with a 33% rise in UK sales.
The number of active customers increased 32% year-on-year to 1.2 million at the end of October. The company also saw a "positive start" to the second half, with total sales for the seven weeks to November 15th up 46% year-on-year. Meanwhile, UK sales for the same period increased 23% and international sales rose 161%.
Nick Robertson, chief executive of ASOS, said: "A strong first half performance and a very encouraging start to the second half. UK sales continue to grow and International sales have accelerated. We invested in a number of customer facing initiatives, specifically around delivery and returns and continued to build our International operations, the output of which is clearly visible with International now representing 25% of our sales.
Fundamentally, the internet is the retail channel with the greatest potential and ASOS is ideally situated to exploit it".
Retail news is updated every weekday and is provided courtesy of: 
