Asos profits jump as etailer raises full-year sales forecast

The fashion etailer posted a 14% leap in pre-tax profit year on year to £27.3m in the six months to February 28, bolstered by a 37% rise in group revenues to £911.5m.

Retail sales increased 38% during the period and were up 31% on a constant currency basis.

The fashion pure play’s UK arm posted an 18% rise in retail sales driven by an increased demand for promotional items, while international sales soared 54%.

Customer acquisition jumped 29% as the number of active customers surpassed 14m.

The shopper’s average basket value edged up 3% and average order frequency increased 6%.

The number of total orders shipped during the period rose 33% to 23.3m.

Asos has increased its sales growth guidance for the current financial year to between 30-35% as a result of its continued run of soaring international sales, although profit expectations remain unchanged.

The fashion etailer’s mobile purchases made up 58% of its overall sales during the period and 70% of traffic.

Chief executive Nick Beighton said: These are a strong set of results, showing great progress across the business.

“We passed the 5m active customer mark in the UK, where we have shown solid sales growth of 18% in a more promotional market. We’ve accelerated our significant infrastructure and technology projects which remain on track, and Eurohub 2 went live in March.”