Home Business NewsBusiness Asos sees a performance boost

Asos sees a performance boost

by LLB Reporter
4th Apr 17 8:29 am

These are the latest figures…

Asos has managed to gain a performance boost, the online fashion retailer has seen a jump in its half-year profits and sales. This was driven by an “accelerated international performance”.

The firm spoke of how the fall in the sterling since the EU referendum has managed to boost exports, in turn this enabled the company to cut its prices.

Asos has a target market of those in their twenties, it currently has more than 5m active customers in the UK.

In the six months to the end of February profits managed to rise 14 per cent to £27.3m. Sales managed to hit a massive £889.2m, this is a rise of 31 per cent.

UK retail sales rose by 18 per cent and international sales managed to soar by 42 per cent.

Chief executive, Nick Beighton, said: “As a net exporter, sterling weakness has created a FX tailwind for the business which has enabled investment above previously planned levels into both price and proposition,”

The firm also expects to see full-year retail sales to rise by between 30 and 35 per cent.

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