Asos founder sells 20 million pounds of shares

Asos director Nick Robertson has sold 750,000 of his shares in the online fashion business he founded, netting him just over 20 million pounds.

Asos share price was down 1.3 percent at 2.611p after Robertson's sale of his shares at 2.716p each.

Robertson has sold the shares at a higher point than they were at the start of the 2015, but after a year in which Asos has been plagued by profit warnings, slowing international sales and a fire at its warehouse, the share price is down more than 50 percent on this time in 2014.

Earlier this week Asos has admitted that despite the scarcity of engagement data available from Snapchat it will continue to use the messaging app to reach its much heralded core user base of teenage consumers.