Profits soar by 66% at ASOS.com

Fashion giant ASOS has released new stats this week which reveal that half year profits leading up to September 2011 have soared by 66% to £11.7m.

Overseas revenue, which now accounts for 58% of group sales, increased 150% while UK revenue grew by 8%. ASOS retail margin was up £170bn and its gross margin up £10bn year on year.

Founded in 2000, ASOS has experienced phenomenal growth in just over 10 years, and now has just over 2.1m active customers in the UK alone. However, ASOS are still eager to grow the online fashion store even further, pointing out that there are 6m Britons aged between 16 and 34 who currently shop online for clothing, accessories and footwear.

As the fastest growing online fashion retailer in the UK, ASOS.com has recently revealed plans to extend its website into many languages, and work is now underway to enable its platform to handle all language character sets rather than just western.

The retailer has opted for this rather than building individual sites for countries such as China and Russia. Although this will take 12 months longer to develop, ASOS said it would be more efficient in the long term.

ASOS launched three international websites in Australia, Italy and Spain in the first half of 2011, and also opened a returns hub in Sydney. The online retailer said it plans to introduce small in-country teams in the countries where it currently operates with the aim of strengthening its marketing in these markets.

Chief executive, Nick Robertson said: “With our continued rapid and profitable international expansion, we remain confident of achieving full year results in line with market expectations.”

Postive stats for online shopping are becoming a regular occurrence in 2011, with the average monthly growth hitting around 14% in 2011. The fashion is reported to be one of the most improved sectors, with latest figures reporting a 21% year on year growth

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