Asos upbeat despite 10% profit fall

Asos upbeat despite 10% profit fall
 

Online fashion retailer Asos has reported a 10% fall in first half profits as an investment programme and price cuts took their toll.
Asos reported pre-tax profits of £18m for the six months to 28 February, down from £20.1m a year earlier.
However, the firm said it was confident of hitting its full-year profit target
Retail sales grew 17%, after currency fluctuations were removed, to £536m. Asos also said that sales in the UK were up 27%.
The firm said international sales were gaining momentum following the introduction of zonal pricing, allowing the company to price its products more... read more

 
1 April 2015 in Business, Views: 1
Source: BBC
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