Asos has announced a 10% fall in first half profits, but said that this would not impact its full year forecasts.
In the six months to February 28th, Asos reported pre-tax profits of £18 million, down from £20.1 million a year earlier.
The online fashion retailer attributed the fall to price cuts and investment in its international business.
Retail sales grew 17%, after currency fluctuations were removed, to £536 million. UK sales jumped 27% over the first half, while international sales increased by 5%.
Analysts currently expect Asos to report a full-year pre-tax profit of about £45 million.
