Asos to hit top end of profit forecasts

It told investors that retail sales rose by 23 per cent to £1.32bn for the period to December 31.

Asos said it benefited from lower customer returns over the period and now expects the impact of restrictions to boost profits in the first half of the current financial year by "at least £40m".

Nick Beighton, chief executive officer of Asos, said: "We are really pleased with the strong performance we have delivered, which is testament to both the strength of our multi-brand model and the hard work of our people.

"We have continued to execute well and deliver for our customers whilst investing into growing our business and driving further efficiency through a strong operational grip.

"Looking forward, given the uncertainty associated with the virus and the impact on customers' lives, our cautious outlook for the second half of the year remains unchanged.

"However, the strength of our performance gives us confidence in our continued progress towards capturing the global opportunity ahead."

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