Booming overseas sales keep Asos on growth trail

Asos, the online fashion retailer, said its international sales overtook those in the UK for the first time in the fourth quarter, as its booming growth shows little sign of slowing.

Despite tougher trading conditions in the UK, Asos forecast that its pre-tax profits for the year to 31 March would be towards the top end of City expectations of between £26m and £29m.

Over the last quarter, Asos posted group retail revenues up by 70 per cent to £93.38m.

Nick Robertson, the chief executive, said: "With international becoming an increasingly significant part of our future, I was pleased to see our international sales mix exceed that of the UK for the first time, accounting for 52 per cent of our retail sales."

Asos delivered international sales up by 161 per cent to £48.43m, boosted by its dedicated websites in the US, France and Germany. Its UK business grew sales by 24 per cent to £44.95m.

The online specialist cited a strong performance of its own-brand slim-fit chinos and Asos Wayfarer sunglasses for men, and womenswear, including pleats, pencil dresses and its Jersey micro-mini skirts.

The retailer said it had delivered a "small increase" in gross margin.

Mr Robertson said: "We have approached the new financial year with confidence and are excited about the prospects for both our UK and international businesses."

Despite British consumers being under financial pressure, Asos's UK business continues to stretch ahead of the 20 per cent growth internet non-food sales in the wider market.

John Stevenson, the analyst at Peel Hunt, said: "This was an encouraging result, while we had expected a level of international outperformance against forecasts, we had feared the UK may have disappointed, which has proved not to be the case."

UK sales were promotion driven, however, with customers "requiring incentives to spend".

Start your day with The Independent, sign up for daily news emails
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

SThree: Trainee Recruitment Consultant

competitive: SThree: Are you passionate about sales?Do you have a keen interes...

Recruitment Genius: Loan Adviser - OTE £30,000

£17000 - £30000 per annum: Recruitment Genius: This is an exciting opportunity...

Recruitment Genius: Sales Assistant / Buyer

£15000 - £17000 per annum: Recruitment Genius: This company offers a range of ...

Recruitment Genius: Customer Service Advisor

£15000 - £16000 per annum: Recruitment Genius: Customer Service Advisors are r...

Day In a Page

Greece says 'No': A night of huge celebrations in Athens as voters decisively back Tsipras and his anti-austerity stance in historic referendum

Greece referendum

Greeks say 'No' to austerity and plunge Europe into crisis
Ten years after the 7/7 terror attacks, is Britain an altered state?

7/7 bombings anniversary

Ten years after the terror attacks, is Britain an altered state?
Beautiful evening dresses are some of the loveliest Donatella has created

Versace haute couture review

Beautiful evening dresses are some of the loveliest Donatella has ever created
No hope and no jobs, so Gaza's young risk their lives, climb the fence and run for it

No hope and no jobs in Gaza

So the young risk their lives and run for it
Fashion apps: Retailers roll together shopping and social networking for mobile customers

Fashion apps

Retailers roll together shopping and social networking for mobile customers
The Greek referendum exposes a gaping hole at the heart of the European Union – its distinct lack of any genuine popular legitimacy

Gaping hole at the heart of the European Union

Treatment of Greece has shown up a lack of genuine legitimacy
Number of young homeless in Britain 'more than three times the official figures'

'Everything changed when I went to the hostel'

Number of young homeless people in Britain is 'more than three times the official figures'
Compton Cricket Club

Compton Cricket Club

Portraits of LA cricketers from notorious suburb to be displayed in London
London now the global money-laundering centre for the drug trade, says crime expert

Wlecome to London, drug money-laundering centre for the world

'Mexico is its heart and London is its head'
The Buddhist temple minutes from Centre Court that helps a winner keep on winning

The Buddhist temple minutes from Centre Court

It helps a winner keep on winning
Is this the future of flying: battery-powered planes made of plastic, and without flight decks?

Is this the future of flying?

Battery-powered planes made of plastic, and without flight decks
Isis are barbarians – but the Caliphate is a dream at the heart of all Muslim traditions

Isis are barbarians

but the Caliphate is an ancient Muslim ideal
The Brink's-Mat curse strikes again: three tons of stolen gold that brought only grief

Curse of Brink's Mat strikes again

Death of John 'Goldfinger' Palmer the latest killing related to 1983 heist
Greece debt crisis: 'The ministers talk to us about miracles' – why Greeks are cynical ahead of the bailout referendum

'The ministers talk to us about miracles'

Why Greeks are cynical ahead of the bailout referendum
Call of the wild: How science is learning to decode the way animals communicate

Call of the wild

How science is learning to decode the way animals communicate