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ASOS tops forecast with 43% rise in profit Thursday, 24th May 2012
Claire Danes for ASOS Spring/Summer 2012 Lookbook, Photo credit: ASOS Ltd
ASOS revealed a 43 per cent rise in year profit as strong growth overseas managed to offset the temperamental UK market.
Pre-tax profit for the year to 31 March rose to £40.9 million, compared with analysts’ average forecast of £40.3 million.
Group revenue rose a heady 46 per cent to £495 million, although sales growth began to tail off in spring, falling from 46 per cent in the third quarter to 34 per cent in the final three months.
"We remain positive in our outlook for 2012/13 as we continue our journey to becoming the world's number one online fashion destination," said chief executive Nick Robertson.
The online fashion retailer saw international sales more than double over the course of 2011. Following the launch of country-specific websites in Australia, Spain and Italy, overseas markets now bring in 59 per cent of ASOS's total retail sales.