Asos executives in line for big payouts as profits soar

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The Independent Online

Asos revealed a bumper new incentive plan yesterday as it posted another sharp rise in half-year profits.

The online retailer is also to launch a dedicated website for China in October, as well as introducing one in Russia today.

Under the new three-year incentive scheme the chief executive, Nick Robertson, could be in line for shares worth up to five times his £350,000 salary while other senior executives could make twice theirs. Executives, who have to put their own money into Asos shares to receive the full award, have already spent more than £5m buying stock.

Profits at Asos rose 19 per cent to £25.7m over the six months to 28 February, on revenue up to sharply to £359.7m.