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ASOS retail sales surge 34% in H1 FY'13
30
Apr '13
ASOS reported financial results for the six months period ending 28 February 2013

Highlights:

· Retail sales up 34% (UK retail sales up 26%, International retail sales up 39%)
· Retail gross margin down by 60bps and gross margin down by 90bps
· International retail sales accounted for 61% of total retail sales (2012: 59%)
· Profit before tax and exceptional items up 11% to £25.7m (2012: £23.1m)
·  Profit before tax and exceptional items up 18% to £27.2m excluding £1.5m Long Term Incentive Plan charge
· Net funds of £45.2m (2012: £12.7m)
· 6.0 million active customers5 at 28 February 2013 (2012: 4.3 million)

Nick Robertson, CEO, commented:

"I am pleased to report another strong performance for ASOS for the six months ended 28 February 2013, with retail sales up 34% to £352.3m (2012: £262.9m) and profit before tax and exceptional items up 11% to £25.7m (2012: £23.1m).

We have continued to invest in all aspects of the customer offer to maximise the growth opportunity; investing in product price and quality, enhanced delivery options, a broad range of marketing initiatives, focused local teams in international territories and continual improvement to our technology platforms, most notably mobile and international sites.

Progress on our dedicated sites for both Russia and China remains on track.  We are already seeing the benefits of this investment across all territories with increased customer awareness, increased shopper frequency, higher conversion rates, more items per basket and strong sales growth. At the same time we have reached the milestone of six million active customers worldwide.

Momentum is strong, and 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. Our International roll out continues and our £1 billion sales ambition for the Group is firmly in our sights."

ASOS


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