Business

Asos sales and profits jump as customer numbers rise

Asos sales and profits jump as customer numbers rise thumbnail

image copyrightAlice Wilkinson

Online fashion group Asos says its sales have grown by 24% in the past six months as it added one and a half million customers.

It now has 24.9 million customers, with more than seven million in the UK, where it makes most of its profits.

Profits for the six months to 28 February were £106.4m, up from £30.1m a year earlier.

It said its integration of Topshop and other Arcadia brands, which Asos bought in February, was “progressing to plan”.

As well as Topshop, Asos also acquired the Topman, Miss Selfridge and HIIT brands in a £395m deal, but not their network of about 70 shops.

The company said its latest “record results” had been driven by “exceptional execution”.

“We are delighted with our exceptional first-half performance and proud of the work our teams have put in to achieve this,” said chief executive Nick Beighton.

“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.”

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