Asos reports strong first half trading
Online fashion retailer Asos has reported a 38% increase in first half retail sales following strong sales growth in the UK and its international territories.
In the six months to 28 February, retail sales rose to £889.2 million from £644.6 million in the same period in the previous year.
UK sales were up 18% in a “highly promotional” market while international sales climbed by 54%.
As anticipated, pre-tax profit grew by 14% to £27.3 million.
Nick Beighton, Asos chief executive, said: “These are a strong set of results, showing great progress across the business. International growth of 54% has been excellent and with the Rest of the World segment a stand out performer.
“Customer acquisition, up 29%, takes our active customers to over 14 million. We passed the five million active customer mark in the UK, where we have shown solid sales growth of 18% in a more promotional market.”
Asos said its average basket value rose by 3% in the period with average order frequency up 4%. Total orders shipped reached 23.3 million which was an uplift of 33% year-on-year.
Looking ahead, Beighton added: “Given the current momentum we are seeing, Asos is making good progress towards its ultimate goal of becoming the world’s no. 1 destination for fashion-loving 20-somethings.”
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