Asos’ full-year profits have more than doubled, driven by strong international sales and currency tailwinds in what boss Nick Beighton dubbed “a great year”.
The fashion retailer posted a 145% rise in pre-tax profit to £80m in the year to August 31, as group revenue increased 33% to £1.9bn, up 27% on a constant currency basis.
Asos delivered a strong performance overseas and benefited significantly from currency fluctuations.
International retail sales surged 47% to £1.1bn during the period, and were up 36% in constant currency.
Asos’ UK retail sales jumped 16% to £698.2m and overall retail sales soared 34% to £1.8bn, up 27% in constant currency.
The etaier’s gross margin increased 10 basis points during the period and its number of active customers rose 24%.
The value of an Asos shopper’s average basket edged up 2% and order frequency rose 5%.
The number of orders shipped by the online retailer hit 49.6 million, up 30%.
Chief executive Nick Beighton said: “It’s been a great year for Asos, with continued growth in sales and profits.
“Our international performance was excellent, as we reinvested FX tailwinds and benefited from our continually improving customer proposition. In a competitive UK market, we achieved strong full-price performance while further increasing market share.
“At the same time, we ramped up our investment in building the increasingly strong and differentiated Asos proposition.
“Our new agile technology platform is allowing us to accelerate our pace of innovation with great benefits for our customers, including new payment methods and additional language sites to come.
“The new financial year shows continuing momentum in the business. The potential for our company remains huge. We are confident we are positioning Asos to be the world’s number-one destination for fashion-loving twentysomethings.”