Asos hails ‘improving momentum’ as profits rise 18%

Pre-tax profit for the six months to the end of February was £21.2m compared with £18m a year earlier.

The results are the first under new chief executive Nick Beighton, reports The BBC.

Asos said the half-year figure was in line with expectations and maintained its outlook for the year.

The online retailer reported a 17% rise in active customers to 10.9 million people.

The UK market remained its strongest, with sales up 25 per cent to £289.5m, accounting for almost half of the firm’s revenue. International sales rose 24 per cent to £359.1m.

Mr Beighton said: “We’ve had a good start to the year and I’m pleased with progress on a number of fronts. These results demonstrate improving momentum in the business with group sales up 21 per cent (25 per cent in constant currency).”

Nick Robertson, the founder of Asos, stood down in September last year after 15 years at the helm. although he remains on the company’s board as a non-executive director.