12th Apr 2016 06:18
LONDON (Alliance News) - Online fashion retailer ASOS PLC on Tuesday reported growth in profit in the first half of its financial year, driven by good results in both the international and UK divisions, and said it is on track to deliver full-year results in line with guidance.
ASOS said its pretax profit in the six months ended February 29 rose by 18% to GBP21.2 million from GBP18.0 million in the same period the year before, as revenue increased by 21% to GBP667.3 million from GBP550.5 million.
Retail sales rose by 21% to GBP648.6 million from GBP536.4 million, with the international business achieving growth of 18%, while the UK business saw its sales grow by a quarter.
ASOS said it had 10.9 million active customers by the end of the period, up 17% on the prior year, driven by investments in technology and logistics, and growth in average order frequency, basket value and conversion.
"I'm pleased to confirm that we are on track to achieve our previously stated sales and margin guidance for the full year," Chief Executive Nick Beighton said in a statement.
ASOS's full-year guidance is for 20% sales growth.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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