18 Nov 2008
Online retailer Asos has posted a 68 per cent rise in profit for the first half of 2008, and expects further growth despite a potential slowdown in online sales this Christmas.
Pre-tax profit for the six months to 30 September totalled £4.1m, in comparison to £2.4m posted in the same period last year. The group also reported a jump of 107 per cent in sales to £65.7m.
International sales, which the company considers a "huge growth opportunity" , amounted to £11.4m, an increase of 107 per cent on last year.
Online spending growth will plunge to 15 per cent this festive season from 54 per cent two years ago, according to a survey carried out by IMRG and Capgemini.
But Asos seems to be bucking the trend thanks to its young, web-savvy customer base and the rise in broadband adoption in the UK.
As of 31 October, the firm had 1.88 million registered users on its web site and a claimed 0.95 million active customers.
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