Asos Sees Full Year Sales Growth at Upper End of Guidance Range

Online clothing retailer Asos said on Thursday that its current financial year reported sales growth is anticipated to be at the upper-end of its forecast range as it posted double digit growth in group revenue in the four months ended June 30. The London-headquartered company, whose clothes and accessories are targeted at 20-somethings, generated total group revenue of 675.8 million pounds ($873 million) during the period, up 32% at constant currency rates from the corresponding period of the prior year, according to a trading statement published on Thursday. Total retail revenue also rose by 26% to 660.1 million pounds over the same time frame at constant currency rates.

International retail sales growth was up 44%, and in the UK it was up 16%, the company said. Total orders shipped stood at 16.9 million, up 28% year-on-year. The company said that current financial year reported sales growth is now anticipated to be at the upper end of the 30-to-35% range while its full year 2017 profit before tax is anticipated to be in line with market consensus, which it defined as 79.4 million pounds.