Online fashion retailer Asos posted booming UK sales figures today, making up for a slowdown in growth in its overseas markets.
The Aim-quoted group reported that UK sales rose by 15 per cent to £49.9 million in the three months to 31 August, accelerating from the 10 per cent rise to £205.3m for the year to the same date.
International sales grew by 42 per cent to £91.2m in the quarter, slowing down from the 64 per cent recorded to £537.9m for the 12-month period.
Asos – which sells clothes that allow women to dress like celebrities including television presenter Alexa Chung, singer Tulisa Contostavlos and model Kate Moss – said its profit margin had increased despite price cuts.
Chief executive Nick Robertson said: “Our UK performance was encouraging at 15 per cent and our international business grew by 42 per cent.
“International equated to 65 per cent of our sales over the period up from 60 per cent last year. Our sales performance in those markets where we have a website continue to outperform.”
Mike van Dulken, head of research at Accendo Markets, said: “Revenue growth for the full year shows total sales up a healthy 38 per cent and active customers up an solid 35 per cent to five million, highlighting the success of the company’s wide-range on-line business model while certain high street brands such as Next, French Connection and Burberry have disappointed.”