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Asos posts 40% rise in annual profit Thursday, 25th October 2012
Photo credit: Asos campaign
Asos on Thursday announced a 40 per cent rise in year profit, with strong trading overseas managing to offset a slower domestic market in the UK.
The online-only fashion retailer has long been the one to watch for its engaging ecommerce strategy, and annual figures on Thursday showed why: Asos reported back on a pro forma underlying pretax profit of £44.5 million for the year to 31 August, above analysts’ consensus forecast of £44 million, and well above the £31.7 million reached for the same period the year before.
Retail sales rose an impressive 38 per cent to £538 million, with UK sales still managed to see a 10 per cent boost to £205 million. International sales, an area the company has been focusing its growth on, were up 64 per cent to £333 million.
"We remain positive in our outlook for 2012/13," said chief executive Nick Robertson in light of the results.
Along with its year-end results which were changed from March to August, Asos on Thursday confirmed plans to launch Chinese and Russian websites within the year, as it continues to strengthen its international presence.