ASOS shares jump as revenue rises by 14%
The group said in an interim results statement that revenue rose to £550 million, from £481 million compared to the same period last year. Other highlights include:
- Overall retail sales up 14%.
- UK retail sales up 27%.
- International retail sales up 5%.
- 9.3 million active customers, up 13% on prior year.
However, profit before tax dropped by 10% to £18 million.
"With our continued investment in our international price competitiveness gaining traction, momentum in the business is building," said Nick Robertson, CEO at Asos. "This gives us confidence in the outlook for the second half and that full year profit and margin will be in line with expectations."
ASOS sells over 75,000 branded and own-brand products through mobile and nine web platforms. It has nine local language websites: UK, US, France, Germany, Spain, Italy, Australia, Russia and China.
Shares jumped over 5% in the market open after the news.
