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Asos profits rocket by 41%

Etail giant Asos has posted a rise in full-year profits, boosted by its growing international business.

Asos reported pre-tax profit, before exceptionals, ahead 41% to £28.6m on revenues 52% up to £339.7m.

International operations have become an increasing focus for Asos, which during the year to March 31 launched dedicated sites for the US, France and Germany.

While UK retail sales rose 25% to £184m, international revenues soared 142% to £140m and now account for 43% of Asos’s total.

The etailer is gradually phasing in a new warehouse, and has booked a £12.9m exceptional charge to reflect the costs.

Asos chief executive Nick Robertson said: “We have continued our investment programme to meet anticipated growth targets.

“Key top this is the ongoing transition to a new 530,000 sq ft warehouse in Barnsley, which will be fully operational by June.”

He was “positive” about the outlook for the new financial year and excited about prospects both in the UK and overseas.

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