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ASOS posts bumper first half results

ASOS says that its first half sales rose by 24 per cent to reach £1.98bn. This generated pre-tax profits of £106.4m, representing a rise of 253 per cent. The business said that it generated particularly strong demand from UK customers during the six months to 28th February, with domestic sales reaching £800.4 million, benefiting from the assorted Covid related lockdowns. It also saw increases from the US at 16 per cent, the EU at 18 per cent and 16 per cent from the rest of the world.

Much as experienced with other apparel retailers, ASOS noted an uplift in sales of activewear and casual clothing categories, whereas demand for dressier lines slowed.

CEO Nick Beighton said: “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.”

Beighton also said that the swift integration of the Topshop and early customer engagement was especially pleasing.

 

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