Asos: revenue growth exceeds expectations

(CercleFinance.com) - Asos said revenue growth in the the four months to 31 December exceeded its expectations, with the British online fashion retailer citing a "stronger than anticipated consumer demand" for its products.


The UK fashion website said its results also benefited from a resumption of lower return rates, driven by renewed lockdowns and restrictions over the period.

The company said on Wednesday that retail sales for the four months to 31 December were up 23%, almost double analysts' expectations of 12% growth.

UK sales rose 36%, while overseas sales were up by 16%, it said.

Although its outlook for the current financial year remains unchanged, given the ongoing virus and its impact on the economy, Asos said that the strength of its performance means it now expects annual pre-tax profit to be at the top end of market expectations.

The shares were up slightly (+0.7%) on the London Stock Exchange after this trading statement.

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