ASOS confident for remainder of year

30th Apr 2013 08:07

Online fashion retailer ASOS delivered an increase in first half profit and retail sales and said it is on track to meet full year targets.Retail sales increased 34% to £352.3m for the six months ended February 28th 2013 after 26% growth in UK retail sales and 39% growth in International retail sales. ASOS said its expansion into Russia and China is on track. Group revenue rose by a third to £360m. Pre-tax profit for the six months increased to £25.7m from £21.6m. Retail gross margin fell by 60 bps and gross margin was down by 90 bps. Net funds increased to £45.2m from £12.7m. Active customers increased to 6.0m from 4.3m previously. CEO Nick Robertson said: "Momentum is strong, and we remain positive in our outlook for 2012/13... Our International roll out continues and our £1bn sales ambition for the group is firmly in our sights."CJ