Asos 'can maintain double-digit growth for years'


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The Independent Online

The boss of online fashion retailer Asos today said the business can keep hitting double-digit growth for several more years.

Nick Robertson, co-founder and chief executive, made the claim as sales jumped 40 per cent to £753.8 million in the year to end of August, including a 47 per cent rise in the final quarter compared with a year earlier.

He said: "You look at Amazon; that's still growing by 30 per cent a year and it's 19 years old, so I think we've still got a long way to go.

"Online sales continue to outperform the high street. The UK was just phenomenal."

Sales in the UK grew 34 per cent to £276 million compared with growth of just 10 per cent a year earlier, while in the US sales were up 57 per cent to £77.7 million and in the EU, up 51 per cent to £177.7 million.

The City was happy too, with the shares up 468p, or 9.7 per cent, to 5311p.