“Sales and profits at Asos continue to soar as the online fast fashion expands apace in Europe and the US.
The firm posted a £500m rise in revenue to £2.4bn for the year to 31 August, while profit jumped 28% to £102m, just ahead of expectations.
Shares in the fast-growing retailer have slumped this year after the firm missed analysts’ forecasts.
However, Asos maintained its guidance for the current year despite record investment.
Chief executive Nick Beighton said : “The potential for our business is huge and we remain focussed on building Asos into the world’s number one destination for fashion-loving twentysomethings.””
Source – BBC News