Asos sees leap in international sales
Online fashion retailer ASOS has posted a 66% increase in first half pre-tax profit to £11.7 million.
In the six months to 30 September, UK retail sales rose 8% to £88.6 million while international sales jumped 150% to £122 million and now account for 58% of the total.
The retailer launched three new country specific sites during the period in Australia, Italy and Spain taking the total number to seven including the UK.
Asos said it was making good progress towards its ambition of achieving £1 billion in sales by 2015 and that all its international markets were performing well. It also highlighted that 65% of its website traffic is now derived from outside the UK, up from 48% last year.
In spite of the strong international performance, the UK market continues to be challenging for the retailer. As a result Asos said it would proceed cautiously particularly over the peak period when high levels of discounting were expected across all retail channels.
Nick Robertson, CEO, commented: "I am pleased to report a strong first half performance with retail sales up 60% to £210.9 million, an acceleration from last year where we were ahead by 50% in the first half. This reflects the increasing contribution of our International business which grew by 150% in the period, representing 58% of our sales (37% last year).
"With our continued rapid and profitable international expansion, we remain confident of achieving full year results in line with market expectations."
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