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ASOS reports double digit sales and profit growth

Online fashion retailer ASOS increased its revenues by 21% to £667.3 million in the first half of its financial year.

GENERAL MERCHANDISE

ASOS reports double digit sales and profit growth

Online fashion retailer ASOS increased its revenues by 21% to £667.3 million in the first half of its financial year.

In the six months to 29 February, retail sales climbed by 21% to £648.6 million with UK sales up 25% and international sales rising by 18%.

Meanwhile, pre-tax increased by 18% to £21.2 million.

Nick Beighton, ASOS chief executive, said: “We’ve had a good start to the year and I’m pleased with progress on a number of fronts.

“Particularly encouraging is the 17% growth in our active customers to 10.9 million, with benefits from our investment in our technology and logistics delivering 21% growth in visits to our sites and growth in average order frequency, basket value and conversion.”

ASOS said mobile continues to dominate its customers’ shopping behaviour, with 3.2 million app downloads in the period compared to 2.5 million at the same time in the previous year. Over 60% of traffic came from mobile devices.

Beighton added: “I’m pleased to confirm that we are on track to achieve our previously stated sales and margin guidance for the full year.”

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