Warehousing problems overcome
Fashion e-tailer Asos has weathered the storm of pre-Christmas warehousing problems and expects upbeat full year results.

Nick Robertson, chief executive of the AIM-listed business, said profits for the year ending March 31 would 'not be less than£1.05 million' on sales up 79 per cent to£13.4 million. He added that the web site had achieved record traffic levels, attracting its millionth unique customer in March. At the beginning of June it had 580,000 registered customers.

Robertson said: 'The move to the new 70,000 sq ft [6,505 sq m] warehouse has been scheduled for the first week in August. This has not and will not affect current trading, as stock in the business is currently 30 per cent to 40 per cent lower than pre-Christmas levels.'

The group issued a profit warning earlier this year after its warehousing was unable to cope with an unexpected upsurge in sales over Autumn, resulting in a backlog of product.

Originally called As Seen On Screen, the business was founded in 1999 by Robertson, and his business partner Quentin Griffiths. The premise was to allow customers to buy products they had seen actresses and actors wear in TV shows.