Asos Profits and Revenue Soars

UK-based online fashion and beauty retailer Asos has turned in record profits for the year to March 31. Profits before tax soared by 93 percent to $23 million, with sales up 104 percent to $273.5 million. During the period international sales were up 303 percent to $53.2 million. Asos launched a number of new initiatives including Asos Outlet, Designer Brands at Asos, Asos Maternity, Asos Black and Little Asos during 2008/09. It also significantly expanded its own-label offer.

The number of active customers on the site was up 68 percent year-on-year to 1.2 million at the end of May 2009.

The business has made a good start to the current trading year with sales up 52 percent for the 13 weeks to June 26, compared with the same period in 2008.

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