Business
ASOS Pre-Close Trading Update
ASOS Pre-Close Trading Update.
About this update from Asos Plc
[{"type":"text","content":"\n ASOS PLC\n28 April 2008\n\n\nPre-Close Trading Update\n\nASOS plc\n\nFOR RELEASE\n\n7.00 am\n\nMonday 28 April 2008\n\n ASOS plc\n\n A leading Internet based fashion retailer\n\n Pre close trading update for the year ended 31 March 2008\n\n\n* ASOS.com sales for the 12 months to 31 March 2008 up 90% to\n approximately £81m\n\n* Profit before tax expected to be slightly ahead of market expectations\n\n* Sales for the 4 weeks to 27 April 2008 up 80% year on year\n\n\nNick Robertson, Chief Executive, made the following comments.\n\nI am delighted to report sales of approximately £81m for the year ended 31 March\n2008, a 90% increase on the previous year. Consequently, we expect our profit\nbefore tax to be significantly ahead of market expectations, before accounting\nfor a one off charge of approximately £1.1m relating to the closure of our old\nwarehouse. After this charge, we expect our profit before tax to be slightly\nahead of analysts' forecasts.\n\nOur gross margin performance will be in line with previous guidance.\n\nI can also confirm that the new financial year has started positively with sales\nfor the four weeks to 27 April up approximately 80% year on year.\n\nDespite the uncertain economic conditions, I remain optimistic about the\nprospects for ASOS. We continue to benefit from the increasing popularity of\nonline shopping and we have made considerable investments in management,\ninfrastructure, product ranges and marketing to support and sustain future\ngrowth.\n\nPreliminary Results\n\nASOS will announce its preliminary results for the year ended 31 March 2008 on\nMonday 30 June when it will provide a full overview and update on the business.\n\n\nFor further information contact:\n\n\nASOS plc Tel: 020 7756 1000\n\nNick Robertson, Chief Executive\n\nJon Kamaluddin, Finance Director\n\nwww.asos.com\n\n\nCubitt Consulting Tel: 020 7367 5100\n\nBrian Coleman-Smith\n\nNicola Krafft\n\nJames Verstringhe\n\n\nSeymour Pierce Tel: 020 7107 8000\n\nMark Percy\n\nNicola Marrin\n\n\nBackground note\n\nASOS plc is an Internet Retail business, established in June 2000 and admitted\nto AIM in October 2001.\n\nASOS.com is the UK's largest independent online fashion and beauty retailer.\nAimed primarily at Internet savvy 16-34 year olds, it offers over 8,300 fashion\nlines across womenswear, menswear, footwear, accessories,...