No talks: Asos plays down Amazon link as sales soar

By KRISTY DORSEY
Published on 26/10/2012 00:00

ONLINE clothing retailer Asos has played down speculation that a bid might be in the offing from internet giant Amazon after posting a 37 per cent rise in sales for the year to 31 August.

The fashion firm – which has switched its accounting period from March – was helped by a surge in international revenues led by the United States, now the company’s fastest-growing market.

Pre-tax profits for the newly-adjusted financial year were £40 million on total sales of £552.9m, up from profits of £12.6m in the previous 12 months.

Asked about reports of possible interest from Amazon, Asos founder and chief executive Nick Robertson suggested a deal was unlikely. He added: “I have not spoken to Amazon or [chief executive] Jeff Bezos for three years.”

Sales in the British group’s home market rose 10 per cent to £205.3m. Turnover in the US surged by 91 per cent to £49.6m, while European Union revenues rose by 29 per cent to £117.7m.

KRISTY DORSEY