20th Oct 2015 06:32
LONDON (Alliance News) - ASOS PLC Tuesday reported growth in profit in its recently-ended financial year as sales rose strongly and it invested in its warehouses and technology systems.
The AIM-listed online fashion retailer reported a 1% rise in pretax profit in the year ended August 31 to GBP47.5 million from GBP46.9 million the year before, as revenue rose 18% to GBP1.15 billion from GBP975.5 million.
By region, UK retail sales were up 27% and international retail sales increased 11%.
It said sales were boosted by strong products, delivery proposition enhancements, its so-called 'zonal pricing' strategy and price investments to increase price competitiveness outside the UK.
ASOS added that after investing GBP50 million in warehouse capacity and technology in its last financial year, it will now invest a further GBP80 million in the current financial year.
"Trading year to date has started well and preparations are at an advanced stage for peak season. We currently anticipate sales growth for the new financial year of around 20%, gross margin investment of up to 50 basis points and a similar earnings before interest and tax margin to the financial year just ended. We remain focused on achieving our next staging post of GBP2.5 billion sales," Chief Executive Nick Beighton said in a statement.
By Karolina Kaminska; [email protected] @KarolinaAllNews
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
ASOS