ASOS pre-tax profits grow as retail sales pick up
Fashion retailer ASOS has recorded a 317% rise in pre-tax profits from £3.18m to £13.2m for the the five months to 31 August 2012.
The stellar figures are being attributed to a 32% rise in retail sales to £231m, the bulk of which are being driven by international markets.
ASOS CEO Nick Robertson commented: “During the period we improved our product offer in terms of range, quality and price, invested in our customer proposition, made progress in developing the ASOS platform and continued to drive efficiencies from the business to fuel our future growth. At the same time we have reached the milestone of 5 million active customers worldwide.
“We've also made a number of high calibre appointments recently, including a new Chairman, Executive Director: Product and Trading, Chief Information Officer, Supply Chain Director and Marketing Director. Additionally we have secured territory managers for the USA, France and Germany. These appointments will underpin the continued development of the business, both in the UK and internationally.
“We remain positive in our outlook for 2012/13 as we continue our journey to becoming the number one online fashion destination for twenty-somethings, globally. Our International roll out continues and our 1:5:5 ambitions for the Group are unchanged."