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Asos reports jump in sales and profit

Online fashion retailer Asos has increased its first half retail sales by 27% as it accelerates its investment in its distribution and logistics operations.

FASHION

Asos reports jump in sales and profit

Online fashion retailer Asos has increased its first half retail sales by 27% as it accelerates its investment in its distribution and logistics operations.

In the six months to 28 February, the retailer achieved sales growth of 22% in the UK and 31% in its international markets.

Meanwhile, pre-tax profit rose by 10% to £29.9 million.

Nick Beighton, Asos chief executive, said: “These results show strong trading at the same time as we are making substantial investment in our future. Our customer engagement is going from strength to strength and we’ve achieved more than a billion site visits for the first time.”

Asos increased its number of active customers by 17% in the period. While the average basket value rose by 2%, order frequency was also up, climbing by 8%. Total orders placed reached 29.9 million to mark an uplift of 28% year-on-year.

Beighton added: “Alongside our investment in our people and our technology, we are accelerating investment in our distribution and logistics, laying the foundation for £4 billion of net sales, a further step in building Asos into the world’s number one destination for fashion loving 20-somethings.”

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