The Drum Awards Festival - Official Deadline

-d -h -min -sec

Asos

Asos impress with double digit sales and profit upturn

Author

By John Glenday, Reporter

April 12, 2016 | 2 min read

Online fashion store Asos has seen its share price surge by 5.1 per cent after it recorded a 21 per cent uplift in revenue to £667.3m and a 22 per cent rise in gross profits £324.8m in its latest trading update.

Key to this current success has been a turnaround in international growth which is now increasing markedly.

The figures, which cover the six month period to 29 February, put the etailer firmly on course to hit its full year projections dispelling a period of uncertainty for the business following a devastating warehouse fire and the handover from founder ick Robertson to current chief executive Nick Beighton.

Beighton gushed: “"These results demonstrate improving momentum in the business... Particularly encouraging is the 17 per cent growth in our active customers to 10.9m, with benefits from our investment in our technology and logistics delivering 21 per cent growth in visits to our sites and growth in average order frequency, basket value and conversion.”

Fears had been raised that Asos’ growth may have peaked after it recorded record sales of £1bn in October but rather than rest on its laurels the business appears to be firmly in expansionary mode.

Asos

More from Asos

View all

Trending

Industry insights

View all
Add your own content +