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Asos profit doubles.
Archived article dated Monday June 29th 2009
Profits up 93 per cent
Sales in the year to March rocketed by 104 per cent to £165m from £81m. Pre-tax profits leapt by 93 per cent to £14.1m from £7.3m last time.
The customer base grew by 68 per cent year on year to 1.2m by the end of May 2009. International sales were up 303 per cent to £32.2m. Chief executive Nick Robertson said: I am pleased to report another exceptional year for ASOS. Despite the challenging economic conditions, sales grew by 104 per cent to £165.4m and profit before tax increased by 93 per cent to £14.1m. We continued our programme of investment throughout the year, delivering a number of product initiatives whilst building our team and infrastructure to support these superior levels of growth. The continued popularity of internet shopping provided a strong back-drop and, with the weakness in Sterling, our international sales took a significant step-up.'
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