Online fashion group Asos met forecasts yesterday with a modest rise in profits and said trading in its new financial year had started well.
The firm, whose celebrity inspired fashions are popular with internet-savvy twentysomethings, forecast sales growth for the current year of about 20 per cent.
“We remain focused on achieving our next staging post of £2.5 billion [of] sales,” said Nick Beighton, who took over recently as chief executive following founder Nick Robertson’s decision to step down from the role.
Pre-tax profits in the 12 months to the end of August nudged up 1 per cent to £47.5 million, marginally ahead of market projections. Group revenues jumped 18 per cent to just under £1.2bn, with UK sales up 27 per cent and international sales 11 per cent higher.
The firm, whose name stands for As Seen On Screen, had a tough 2014 including a string of profit warnings but has made up ground this year, helped by price cuts and a new pricing system.