Fashion etailer Asos has upped profit expectations after a strong first half powered by “exceptional execution” as the pandemic continued.

Asos reported adjusted pre-tax profits rose 275% to £113m during the six months to February 28, after group sales climbed 25% to £1.98bn. 

Active customer numbers increased by 1.5 million over the period to 25 million as the addition of new shoppers compensated for “fewer event-led reasons for existing customers to shop”.

In its home UK market, Asos’ sales increased 39% and the etailer said that newly acquired Topshop had delivered “great early customer momentum”.

Asos increased full-year expectations “in line with first-half performance”, and said the outlook for the second half was unchanged “despite pricing investment to enhance our consumer proposition and support long-term competitiveness”.

Asos chief executive Nick Beighton said: “We are delighted with our exceptional first-half performance and proud of the work our teams have put in to achieve this.

“These record results, which include robust growth in sales, customer numbers and profitability, demonstrate the significant progress we have made against all of our strategic priorities and the strength of our execution capability.

“The swift integration of the Topshop brands and the impressive early customer engagement is also especially pleasing.

“Looking ahead, while we are mindful of the short-term uncertainty and potential economic consequences of the continuing pandemic, we are confident in the momentum we have built and excited about delivering on our ambition of being the number one destination for fashion-loving 20-somethings.” 

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