Leading online fashion and beauty retailer ASOS announces final results for the year ended 31 March 2007
Key business highlights: - ASOS.com revenues up 116% to 42.6m - Group profit before tax up 144% to £3.4m (2005/6: £1.4m) - Group profit before insurance proceeds, goodwill write offs and tax £3.1m - Group profit including insurance proceeds but before goodwill write offs and tax £3.6m - Cash at bank up 44% to £5.4m - Fully diluted EPS up 74% to 3.3p - ASOS.com registered users 1.3m as at 9 July 2007 - Revenues for the 13 weeks to 30 June 2007 85% ahead year on year
CHAIRMAN'S STATEMENT: I am delighted to report another set of record results for the group. Revenues continue their healthy progression, rising 116% to £42.6m, although the comparative year was affected by the Buncefield fuel depot explosion in December 2005. Profit before tax rose 144% to £3.4m.
Dividend: Due to the continued programme of investment in the business, the Board has decided that, as in previous years, no dividend will be payable. This policy remains under constant review.
Board Changes: In April 2006 we welcomed both Robert Bready to the Board as Retail Director and Peter Williams to the Board as Non Executive Director, and Chairman of both the Audit and Remuneration Committees.
Colleagues: We are extremely grateful for the energy and commitment of our colleagues and extend our sincere thanks to all of them for their hard work and dedication. I am delighted that their efforts are being constantly recognised both internally and externally.
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