ONLINE retailer Asos is pinning its hopes on overseas expansion as it announced a 59 per cent surge in profit yesterday.
The company’s profit boost represented a £7m rise in the six months to September.
Asos, which offers cut price fashions aimed at 18-34 year-olds, saw a 50 per cent rise in retail sales to £131m over the period.
Chief executive Nick Robertson told City A.M. the company was seeing a massive rise in international sale, with Australia and Germany among the big climbers.
He said: “Everybody around the world loves the variety offered by Oxford Street. That’s what we are offering via the web. Although we are obviously interested in increasing sales in the UK, we recognise that our growth is being driven overseas.”
International retail sales soared from £22.3m to £49m in the period.
They now represent 37 per cent of total retail sales.
That rose from 25 per cent for the same period last year. Asos has launched French and German language websites, which followed a US site launch in September.
Robertson added: “We have had a very busy period and we are on target for the year. We are re-investing a lot to continue our progress.”