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International growth powers Asos' sales

Asos has reported a 40% increase in sales to £754m for the year to August 31, powered by strong US growth.

International sales at Asos soared by 44% to £478m and now account for 63% of the sales mix, an increase of 1% from 2012. The US saw the biggest leap for the year, with sales increasing by 57% to £77m.

In the UK revenues for the year totalled £276m, up 34% year-on-year.

Asos recorded 7.1m shoppers for the 12 month period, an increase of 42%.

For the three months to August 31 UK retail sales jumped 49% to £74m compared to £50m for same period last year, while international sales soared by 47% to £134m.

Chief executive Nick Robertson said: “International growth continues to be driven by the countries in which we have dedicated websites and in-country teams, and was particularly strong in Europe, driven by France, Germany, Italy and Spain. We also saw strong growth in the US and in Russia, following the launch of our Russian website.”

Retail gross margin was up by around 100 basis points (bps) on the prior year. Profit before tax for the year ended 31 August 2013 is expected to be “marginally above” expectations.

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