Asos reports 21 percent growth in H1 sales

Asos reported strong performance on constant currency basis, in its strategic markets such as UK, EU and the US that witnessed a sales rise of 25 percent, 31 percent and 34 percent respectively. Active customers on its platform increased to 10.9 million, representing a rise of 17 percent on prior year.

Commenting on the trading, Nick Beighton, CEO, said, “We’ve had a good start to the year and I’m pleased with progress on a number of fronts. These results demonstrate improving momentum in the business with group sales up 21 percent (25 percent in constant currency). Particularly encouraging is the 17 percent growth in our active customers to 10.9million. We delivered profit before tax of 21.2 million pounds (30.1 million dollars), growth of 18 percent, in line with our expectations.”

Retail gross margin was up 40bps and gross margin increased 50bps. Profit before tax increased to 21.2million pounds (30.1 million dollars) against 18 million pounds (25.6 million dollars) in the first half of last year.