Asos’ pre-tax profits have risen 37% over the last year as total sales soared following the etailer’s investment in its product offering.
In the year to August 31, group revenues rose 39% to £769.4m and pre-tax profit grew by 37% to £54.7m.
Retail sales rose 40% to £753.8m, with the UK arm up by 34% and international revenues up 44%. International sales accounted for 63% of total retail sales, up from 62% the year before.
Both men’s and womenswear performed “strongly” and Asos continued to diversify its womenswear offerings with an increased breadth or product in its petite, maternity and curve ranges in response to consumer demand.
Asos also extended its size ranges to increase its relevance in international markets, particularly in the US and Asia.
The etailer’s own brand range accounted for 52.3% of sales over the year, a rise from 51.5% the year before.
Chief executive Nick Robertson said: “We continued to make progress towards our goal of being the world’s number one fashion destination for 20-somethings. We reached the milestone of seven million active customers worldwide, following significant investment in our product offer, delivery options, customer experience and marketing.
“We also successfully launched our dedicated website in Russia during May 2013 and will soon launch our China operation.”
Robertson said: “We have started the new financial year positively. Our £1bn sales target is now firmly in our sights and we have stepped up our investment in people, technology, logistics and marketing to support the significant global potential of the Asos business.”