ASOS flouts retail downturn with profits up 11 per cent

Suzie Neuwirth

ONLINE fashion retailer ASOS today bucked the downturn and posted an 11 per cent profit increase in its first-half results, with retail sales up 34 per cent.

Pre-tax profits hit £25.7m, compared to £23.1m year-on-year.

International retail sales saw stronger growth than in the UK, up 39 per cent and 26 per cent respectively, with the US leading the way.

Expansion into the Chinese and Russian markets are the next focus for the company.

“We have continued to invest in all aspects of the customer offer to maximise the growth opportunity: investing in product price and quality, enhanced delivery options, a broad range of marketing initiatives, focused local teams in international territories and continual improvement to our technology platforms, most notably mobile and international sites,” said chief executive Nick Robertson.

“Momentum is strong, and we remain positive in our outlook for 2012/13.”