Asos, the online fashion retailer has today reported that its total annual revenue has grown by 18% to £1.15 billion.
Other figures show that retail sales increased to £1.12 billion compared to £955.3 million the previous year due to strong product, launching its zonal pricing capability, proposition enhancements and planned price investments, with the UK showing an increase of 27% and international sales rising by 11%.
Asos currently has 9.9 million customers which is an increase of 13% from last year, where the retailer is now seeing a rise of around 9% for a basket value.
Asos chief executive, Nick Beighton, said: "I'm pleased with these results, which show encouraging progress. We have delivered profit before tax of £47.5 million, on track with our plans. Group revenue increased 18% to £1.15 billion, with UK retail sales performing well up 27%, and international retail sales improving as the year progressed. We ended the year with a cash position of £119.2 million.
“We are attracting more customers with a continued expansion of our delivery proposition and mobile offerings. Customer engagement has been exceptionally strong, with increases in average order frequency, basket size and value.”
Beighton added: “Trading year to date has started well and preparations are at an advanced stage for peak season. We currently anticipate sales growth for the new financial year of c.20%, gross margin investment of up to 50bps and a similar EBIT margin to the financial year just ended. We remain focused on achieving our next staging post of £2.5 billion sales."
