Asos in profit surge

Online fashion retailer Asos today said profits were up by nearly two thirds.

The firm made a pre-tax profit of £7m in the six months to September 30, up 59 per cent from £4.4m in the period last year.

Revenue was up 45 per cent to £139.7m.

Chief executive Nick Robertson said: "As we head into the important quarter three trading period, we remain positive about the outlook for the second half and expect our full year results to be in line with market expectations."

Asos targets 18 to 34-year-old women with clothes based on the designer looks of celebrities such as Kate Moss, Sienna Miller and Alexa Chung but at a fraction of the price.

The firm launched a website in the US in September and since the first half ended has gone online in France and Germany. It sees these as key milestones in its international expansion.

Shares in Asos have more than doubled over the last six months.