Year ends 111% up on previous year
Online fashion retailer Asos has revealed sales rocketed 111 per cent to£38.4 million in the 12 months to March 31, following a record number of visitors to the site.

Asos chief executive Nick Robertson said: 'While we are reporting a 111 per cent increase in sales, it should be noted that the comparative year was affected by the Buncefield fuel depot explosion in December 2005.' He added that a figure of 80 per cent would probably more accurately reflect the performance of the business.

Group profit, before tax and exceptional items, is forecast to be slightly ahead of market expectations. Exceptional items in the year included an insurance receipt of£570,000 relating to Buncefield and a charge of£239,000 relating to the closure of Entertainment Marketing (UK).

In March, Asos.com recorded its highest traffic levels ever, with over 2 million visitors to the web site.

Seymour Pierce analyst Richard Ratner said: 'Sales at Asos.com were up as a result of the stepped up marketing campaign and the clothing market's penchant towards young fashion.'

Sales for the four weeks to April 26 soared 102 per cent against last year. Robertson added: 'Early signs are that 2007/2008 should be another strong year of growth for the company.'

Asos.com is the UK's largest online fashion and beauty retailer, with over 5,000 products on offer. It has 1.2 million registered users.

Topics