Fashion retailer Asos sees profits rise 28 per cent

Asos revenues rose 26 per cent to more than £2.4bn in the year to the end of August, with profits rising in line with market expectations.

Asos appeals to 20-somethings.

The online fashion retailer’s pre-tax profits were up 28 per cent to £102m.

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Asos reiterated its guidance for between 20 per cent and 25 per cent sales growth in the current financial year.

It said it still expects to spend as much as £250m a year in the medium term on investments in the business, such as warehousing and technology.

Chief executive Nick Beighton said: “Asos is moving fast and is as differentiated as ever. The potential for our business is huge and we remain focused on building Asos into the world’s number one destination for fashion-loving twentysomethings.”