Angelica Mari, Computing, Tuesday 18 November 2008 at 17:12:00

Online fashion retailer defies predictions of a web shopping slowdown

Online retailer Asos has posted a 68 per cent rise in profit for the first half of 2008, and expects further growth despite a potential slowdown in online sales this Christmas.

Pre-tax profit for the six months to 30 September totalled £4.1m, in comparison to £2.4m posted in the same period last year. The group also reported a jump of 107 per cent in sales to £65.7m.

International sales, which the company considers a “huge growth opportunity” , amounted to £11.4m, an increase of 107 per cent on last year.

Online spending growth will plunge to 15 per cent this festive season from 54 per cent two years ago, according to a survey carried out by IMRG and Capgemini.

But Asos is bucking the trend thanks to a young, web-savvy customer base and the rise in broadband adoption in the UK, according to the company.

As of 31 October, the firm had 1.88 million registered users on its web site and a claimed 950 million active customers.

Full published article at: http://feeds.computing.co.uk/c/554/f/10978/s/265171e/l/0L0Scomputing0O0Ccomputing0Cnews0C2230A7410Casos0Ereports0Ebuoyant0Eresults/story01.htm

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