Height of fashion: Asos sitting pretty as growth rockets

ASOS had a good Christmas period and saw figures rise
ASOS had a good Christmas period and saw figures rise
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Online fashion house Asos kept up its stellar growth over Christmas with a 41 per cent jump in December sales.

Chief executive Nick Robertson said a better-than-expected 34 per cent rise in UK sales was driven by investment in the clothing range, lower pricing and a better conversion rate of site visits.

International sales grew 47 per cent while the group’s attention to price led to a slight fall in gross margin.

Overall, Asos despatched more than two million orders worth £78 million in December.

Robertson added: “We remain positive in our outlook for 2012-13 as we continue our journey to becoming the number one online fashion destination for twenty-somethings, globally.”

Analyst Andrew Wade, at stockbroker Numis, said the margin fall would hit profits, although he kept his “add” recommendation on the shares, which rose 46p to 2,700p.

DOMINIC JEFF