Online fashion retailer ASOS March retail sales up 111%
01 May '07
2 min read
ASOS sales for the 12 months to 31 March 2007 up 111% to £38.4m.
Group profit before tax and exceptional items expected to be slightly ahead of market expectations.
Sales for the 4 weeks to 26 April 2007 up 102% on last year Nick Robertson, the Chief Executive, made the following comments.
“I am pleased to report another strong year. Whilst we are reporting a 111% increase in sales, it should be noted that the comparative year was affected by the Buncefield fuel depot explosion in December 2005. We believe a figure of 80% would more accurately reflect the performance of the business.
In March 2007 ASOS recorded its highest traffic levels ever, with over 2 million unique visitors to the website.
We remain optimistic about the prospects of ASOS and early signs are that 2007/8 should be another strong year of growth for the company. Sales for the 4 weeks to 27 April are 102% ahead of last year.”
Final results for the year to 31 March 2007 will be released in the week commencing 9 July 2007.
Exceptional items in the year include a receipt of £570,000 insurance proceeds relating to the Buncefield fuel depot explosion and a charge of £239,000 relating to the closure of Entertainment Marketing (UK) Ltd.
In the final results for the year ended 31 March 2007 the presentation of sales will change to include £4.3m of postage and packaging receipts which have previously been offset against the cost; this will increase ASOS sales from £38.4m (as noted above in the highlights) to £42.6m. The sales for the previous year will also be represented increasing sales by £1.5m to £19.7m. There is no impact on profit before tax
ASOS plc is an Internet Retail business, established in June 2000 and admitted to AIM in October 2001, ASOS.com, its main trading subsidiary, is the UK's largest independent online fashion and beauty retailer. Aimed primarily at Internet savvy 18-34 year olds, ASOS offers over 5000 roducts across womenswear, menswear, footwear, accessories, jewellery and beauty.
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