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Fashion retailer ASOS declares results ended March 31

05 Jul '06

2 min read

Leading online fashion and beauty retailer ASOS announces reports for the year ended 31 March 2006:

- despite the previously reported impact to the business resulting from the Buncefield Fuel Depot explosion in December 2005, ASOS.com sales up 42 percent and profit expected to be not less than £1.6m

- Insurance claim proceeds phased over two accounting periods - further £0.6m insurance monies due during 6 months to 30 September 2006

- Strong start to new financial year - ASOS.com sales for the six weeks ended 7 May 2006 up 74 percent year on year

- Confident of another strong year of growth

Nick Robertson, the Chief Executive, made the following comments:

I am pleased to report that, despite not trading over the Christmas period following the Buncefield Fuel Depot Explosion which caused damage to our Hemel Hempstead warehouse, ASOS.com recorded a 42 percent increase in sales and profit before tax and amortisation of goodwill for the year to 31 March 2006 will be not less than £1.6m.

The profit is less than previously advised due to the phasing of the Buncefield Insurance claim proceeds. Further receipts totaling £0.6m will be accounted for in the 6 month period to 30 September 2006 rather than the year ended 31 March 2006 as previously anticipated.

I would like to take this opportunity to thank our insurers, Fusion Insurance Services Ltd, for their continued support and assistance.

UK based ASOS plc is an Internet Retail and Marketing Services Group, established in June 2000 and admitted to AIM in October 2001. Its principal business is ASOS.com, a leading online fashion and beauty retailer.

Aimed primarily at Internet savvy 18-34 year old, ASOS has over 600,000 registered customers at 4 July 2005, and offers over 1800 lines across womenswear, menswear, jewellery, beauty, accessories and footwear.

ASOS plc

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