International growth is driving the continuing increase in profits for online retailer Asos its half year results...
Profit in the first half of the 2010-11 financial year rose 59% compared to the first half of 2009-10, reaching £7m.
This was achieved with a big boost to international sales, which rose 120% in the period, and UK retail sales which rose 26%.
The US market featured strongly in the company's success, with its American website launched during the first half of the year. Since the period ended, its French and German websites were also launched on 28 October.
Asos has underpinned and enabled its fast growth with heavy investment in reliable technology, and its new warehouse complete with new management systems will be ready in spring 2011. Its Marketplace and Fashion Finder launches are also imminent.
CEO Nick Robertson said, "Since the period end we have launched our French and German websites which, coupled with our US site launch in September, are all key milestones in our international expansion programme.
"In anticipation of continued strong growth, we have maintained our programme of investment, specifically around resource, logistics and our technical capabilities."