UK: Asos posts full-year profits jump
- Profit before tax rose 93% to GBP30.3m
- Revenue increased 46% to GBP494.9m
- International sales increased 103%
Online clothing retailer Asos has reported a jump in full-year profits as the company saw sales boosted by stellar international growth.
The retailer today (24 May) reported that profit before tax was up 93% to reach GBP30.3m (US$47.5m) over the year ended 31 March.
Revenue increased 46% over the year to GBP494.9m, with retail sales increasing 49% to GBP481.6m.
Over the year, international sales rose 103% to account for 59% of total sales, rising from 43% in the prior year. UK sales increased 7% on the prior year.
"I am pleased to report another strong year for ASOS, with retail sales up 49% to £481.6m and profit up 43% to GBP40.9m," said CEO Nick Robertson.
"During the year, we successfully launched country specific sites in Australia, Spain and Italy. We completed the year with further penetration into existing international markets and substantial expansion into new territories. Additionally our successful transition to a new 530,000 sq ft warehouse in Barnsley became fully operational in June 2011.
"We remain positive in our outlook for 2012/13 as we continue our journey to becoming the world's number one online fashion destination."
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