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ASOS full year profit rockets

ASOS reported group revenues up 35% to £223m for the year to end-March, with profit before tax up 44% to £20.3m.

CITY & CORPORATE

ASOS full year profit rockets

ASOS reported group revenues up 35% to £223m for the year to end-March, with profit before tax up 44% to £20.3m.

Pre-tax profit increased to £20.3m for the year ended 31 March 2010 compared to £14.1m the same time a year earlier. Revenue increased to £223m from £165.4m. International sales rose 95% to £63m. In current trading group retail sales for the 9 weeks to 6 June 2010 rose 58% with the UK up 36% and international soaring 118%.

The group has made a £20m investment into new warehouse facilities with initial capacity of £600m annual sales.

Nick Robertson, CEO, commented: "These are a strong set of results and the team have again delivered record sales and profits.

"We are more confident than at this time last year, with both UK and international sales accelerating well. We are keeping a very close eye on controlling our costs whilst at the same time encouraging the entrepreneurial and innovative spirit that drives all that we do.

"We are excited about the future and believe that online fashion will continue to outperform traditional retail channels. We are at the leading edge of our sector and see enormous potential to drive our business forward, both in the UK and internationally."

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