On­line fash­ion re­tailer sees record num­ber of vis­its to its web­site

Yorkshire Post - Business - - FRONT PAGE -

ON­LINE FASH­ION firm Asos has posted a 10 per cent rise in half year prof­its as it notched up its high­est num­ber of web­site vis­its – at over a bil­lion over the half year.

The firm said work is cur­rently un­der­way at its Barns­ley ware­house to in­crease the stock­hold­ing ca­pac­ity through the con­struc­tion of an ad­di­tional mez­za­nine.

This will in­crease ca­pac­ity by a fur­ther 10 per cent to 22 mil­lion units and is sched­uled to com­plete by the end of April.

Pre-tax prof­its jumped to £29.9m in the six months to Fe­bru­ary 28.

UK re­tail sales rose 22 per cent to £414.5m, while in­ter­na­tional sales in­creased 28 per cent to £716.8m on a con­stant cur­rency ba­sis.

Chief ex­ec­u­tive Nick Beighton said: “These re­sults show strong trad­ing at the same time as we are mak­ing sub­stan­tial in­vest­ment in our fu­ture.

“Along­side our in­vest­ment in our peo­ple and our tech­nol­ogy, we are ac­cel­er­at­ing in­vest­ment in our dis­tri­bu­tion and lo­gis­tics, lay­ing the foun­da­tion for £4bn of net sales.”

The group kept its guid­ance for full-year sales growth of be­tween 25 and 30 per cent.

The firm raised its spending guid­ance for the full-year for the sec­ond time in less than three months and now ex­pects cap­i­tal ex­pen­di­ture of be­tween £230m and £250m.

Asos has spent just over £95m so far this year, with around half on tech­nol­ogy and trans­for­ma­tion pro­grammes and the re­main­der on in­fra­struc­ture across its sup­ply chain and head of­fice.

The firm said the heavy in­vest­ment is bear­ing fruit.

We are mak­ing sub­stan­tial in­vest­ment in our fu­ture.

Nick Beighton, chief ex­ec­u­tive of Asos

HEIGHT OF FASH­ION: Asos revealed that pre-tax prof­its jumped to £29.9m in the six months to Fe­bru­ary 28 with UK re­tail sales in­creas­ing 22 per cent to £414.5m.

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