UK: Asos H1 growth driven by international demand
- H1 underlying pre-tax profit up 66% to GBP11.6m
- Sales up 56% to GBP217.3m
- International revenues up 150% to GBP122.2m
Global online fashion retailer Asos saw underlying profit jump over the first-half, with strong international growth offsetting weaker UK sales.
The company today (3 November) reported that underlying pre-tax profit rose 66% to GBP11.6m (US$18.5m) on the back of a 56% increase in sales to reach GBP217.3m.
International revenues jumped 150% to GBP122.2m while UK sales growth slowed to 8% to reach GBP88.6m. UK sales were up 25% over the previous financial year.
International sales increased their share of the business, now representing 58% of the total, up from 37% last year. Over the half, Asos launched country specific sites in Australia, Italy and Spain.
The company said that retail margin improved by 170 bps and gross margin rose 10 bps on the previous year.
"With our continued rapid and profitable international expansion, we remain confident of achieving full year results in line with market expectations," said CEO Nick Robertson.
Recent talk about high street brands and retailers shifting some of their manufacturing back to the UK requires long-term collaboration with local factories. Petah Marian looks at one such partnership...
In the second of a two-part series, Euromonitor International analyst Bettina Kurnik identifies the appeal of offshore e-tailers over their Australian counterparts, and reviews the way forward for loc...
Highlights from just-style's research store this week include a report on world textile and apparel trade and production trends, a look at the luxury and accessories market in China, and the clothing ...
Online fashion retailer Asos Plc today (26 April) said it was "pleased" with a 33% jump in fourth quarter revenue and that full-year profit is set to be in line with expectations - although analysts g...
- Marks & Spencer to extend mobile phone monitoring
- China tightens on corporate social responsibility
- Outdoor industry's future must be more inclusive
- Factoring: a lifeline for apparel suppliers?
- Asos FY profit drop: What the analysts say
- Cambodia clothing factory collapse injures eight
- Adidas "Reebok sale" would be admittance of defeat
- H&M and The North Face commit to responsible down
- Bangladesh taps factory inspectors ahead of review
- Coats to open new zip factory in Bangladesh
- Ethiopia – the emerging textile and clothing industry
- Apparel Market in China to 2018 - Market Size, Trends, and Forecasts
- Global market review of denim and jeanswear – forecasts to 2020
- Prospects for the Textile and Clothing Industry in Vietnam
- Wool in the 21st Century: new prospects for a familiar fibre