UK online fashion retailer Asos' H1 FY21 sales up 24% to £1,976 mn

Asos plc, a British online fashion and cosmetic retailer, has reported 24 per cent revenue growth to £1,975.9 million in its first half fiscal 2021 ended on February 28, 2021 compared to the revenue of £1,596.8 million in the same period previous fiscal. The company’s net cash for the period was £92.0 million (H1 FY19: debt £163.6 million).

 

Asos plc, a British online fashion and cosmetic retailer, has reported 24 per cent revenue growth to £1,975.9 million in its first half fiscal 2021 ended on February 28, 2021 compared to the revenue of £1,596.8 million in the same period previous fiscal. The company's net cash for the period was £92.0 million (H1 FY19: debt £163.6 million).#

“We are delighted with our exceptional first-half performance and proud of the work our teams have put in to achieve this. These record results, which include robust growth in sales, customer numbers and profitability, demonstrate the significant progress we have made against all of our strategic priorities and the strength of our execution capability. The swift integration of the Topshop brands and the impressive early customer engagement is also especially pleasing,” Nick Beighton, CEO, said in a press release.

 

Asos plc, a British online fashion and cosmetic retailer, has reported 24 per cent revenue growth to £1,975.9 million in its first half fiscal 2021 ended on February 28, 2021 compared to the revenue of £1,596.8 million in the same period previous fiscal. The company's net cash for the period was £92.0 million (H1 FY19: debt £163.6 million).#

Gross profit for the period rose to £890.0 million (£750.0 million), while operating profit increased to £109.7 million (£34.6 million). Asos’ profit for the period was £81.8 million (£23.1 million).

 

Asos plc, a British online fashion and cosmetic retailer, has reported 24 per cent revenue growth to £1,975.9 million in its first half fiscal 2021 ended on February 28, 2021 compared to the revenue of £1,596.8 million in the same period previous fiscal. The company's net cash for the period was £92.0 million (H1 FY19: debt £163.6 million).#

Retail sales during the six-month period jumped 24 per cent to £1,919.9 million (£1,551.4 million), driven by exceptional performance in the UK where retail sales growth of 36% in P1 accelerated further in P2 with growth of 46 per cent.

 

Asos plc, a British online fashion and cosmetic retailer, has reported 24 per cent revenue growth to £1,975.9 million in its first half fiscal 2021 ended on February 28, 2021 compared to the revenue of £1,596.8 million in the same period previous fiscal. The company's net cash for the period was £92.0 million (H1 FY19: debt £163.6 million).#

The company reported 39 per cent sales growth in UK to £800.4 million (£577.1 million) during H1 FY21. Whereas, US sales grew 16 per cent to £232.9 million (£209.8 million) and EU sales were up 18 per cent to £594.4 million (£499.5 million). For rest of the world, sales increased to £322.8 million (£290.5 million).

 

Asos plc, a British online fashion and cosmetic retailer, has reported 24 per cent revenue growth to £1,975.9 million in its first half fiscal 2021 ended on February 28, 2021 compared to the revenue of £1,596.8 million in the same period previous fiscal. The company's net cash for the period was £92.0 million (H1 FY19: debt £163.6 million).#

“Looking ahead, while we are mindful of the short-term uncertainty and potential economic consequences of the continuing pandemic, we are confident in the momentum we have built, and excited about delivering on our ambition of being the number one destination for fashion-loving 20-somethings,” Beighton said.