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Asos profits jump 253% amid pandemic boom

by LLB Editor
8th Apr 21 11:02 am

The online fashion retailer Asos has reported a 253 per cent rise in pre-tax profits after benefiting from a surge in orders during lockdown.

The company this morning reported a 24 per cent rise in revenues year-on-year to £2 billion for the six months to the end of February, with pre-tax profits rising from £30.1 million to £106 million. Sales in the UK rose 39 per cent, while sales in Europe were up 18 per cent, the US 16 per cent and the rest of the international business 16 per cent.

Nick Beighton, the chief executive, said: “We are delighted with our exceptional first-half performance and proud of the work our teams have put in to achieve this.

“Looking ahead, while we are mindful of the short-term uncertainty and potential economic consequences of the continuing pandemic, we are confident in the momentum we have built, and excited about delivering on our ambition of being the number one destination for fashion-loving 20-somethings.”

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