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ASOS lifts outlook after delivering bumper profit in H1
StockMarketWire.com
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Online fashion retailer ASOS lifted its full-year expectations after reporting a jump in first-half profit as sales were boosted by pandemic-led surge in online shopping.
'Our expectations for the full year have increased in line with our outperformance in the first half, and our outlook for the second half [is] unchanged despite our incremental pricing investment,' the company said. For the six moths ended 28 February, pre-tax profit rose 253% to £106.4 year-on-year as revenue jumped 25% to £1.98 billion.
Sales were boosted by increase in new customer as the company added 1.5 million new active customers in the half, taking its total base to 24.9 million.
UK performance was exceptional with 39% sales growth, while its international territories reported growth of 18% in the EU, 16% in US, and 16% in the rest of the world. FY21 expectations increased in line with first half performance; outlook for the second half unchanged despite pricing investment to enhance our consumer proposition and support long-term competitiveness
At 8:01am: (LON:ASC) Asos PLC share price was 0p at 4550p
Story provided by StockMarketWire.com
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