ASOS full-year profit jumps 23 percent

Reuters

LONDON (Reuters) - Online fashion retailer ASOS (LSE:ASC) met forecasts with a 23 percent rise in full-year profit as sales continued to soar both in Britain and in overseas markets.

The group, whose celebrity fans include U.S. First Lady Michelle Obama and pop singer Rita Ora, also said on Wednesday it had started its new financial year positively and would step-up capital expenditure investment to 55 million pounds in each of the next two years.

ASOS made a pretax profit of 54.7 million pounds in the year to August 31.

That compares with analysts' consensus forecast of 54 million pounds and 44.5 million pounds made in the 2011-12 year.

Revenue, reported last month, rose 39 percent to 769.4 million pounds, while retail gross margin increased 100 basis points versus the prior year.

(Reporting by James Davey; Editing by Pravin Char)

View Comments (0)