Strong H1 for ASOS

Asos has recorded a strong first half, as sales soared a whopping 94 percent to £15.6 million. This was the result of investments made in the buying and merchandising teams last year, which led to a broader product offering. The British fashion and beauty etailer said it was on track to meet full-year expectations, adding that sales were still growing. Pre-tax profits before exceptional items for the six months ended 30 September rose to £269,000, up from a loss of £44,000 the year before. Operating costs rose by £1.4 million due to increasing head count, as the company continues to grow.

Sales in the eight weeks to 26 November rose 62 percent. The company, which targets consumers between the ages of 18 and 34, said that it had 1.1 million registered users on 27 November and is the second biggest online fashion retailer in the UK after Next. "As we approach the Christmas trading period I remain optimistic that we can look forward to another excellent year's trading," said chief executive Nick Robertson.