Asos profits triple as pandemic boosts sales
Asos has more than tripled first half profits to a record £ 113 million and raised expectations for the full year as the online retailer continues to prove a big winner during the pandemic.
The company also said that brands Topshop, Miss Selfridge and sportswear brand HIIT, acquired from Sir Philip Green’s Arcadia empire for £ 330 million in February, have been integrated “seamlessly” into their online platform and have seen “a huge initial boost from customers.”
Asos reported a 253% year-on-year increase in pre-tax earnings to £ 106.4 million in the six months to February 28, as the group’s total revenue increased 24% to £ 2 billion.
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