ASOS PLC
28 April 2008
Pre-Close Trading Update
ASOS plc
FOR RELEASE
7.00 am
Monday 28 April 2008
ASOS plc
A leading Internet based fashion retailer
Pre close trading update for the year ended 31 March 2008
* ASOS.com sales for the 12 months to 31 March 2008 up 90% to
approximately £81m
* Profit before tax expected to be slightly ahead of market expectations
* Sales for the 4 weeks to 27 April 2008 up 80% year on year
Nick Robertson, Chief Executive, made the following comments.
I am delighted to report sales of approximately £81m for the year ended 31 March
2008, a 90% increase on the previous year. Consequently, we expect our profit
before tax to be significantly ahead of market expectations, before accounting
for a one off charge of approximately £1.1m relating to the closure of our old
warehouse. After this charge, we expect our profit before tax to be slightly
ahead of analysts' forecasts.
Our gross margin performance will be in line with previous guidance.
I can also confirm that the new financial year has started positively with sales
for the four weeks to 27 April up approximately 80% year on year.
Despite the uncertain economic conditions, I remain optimistic about the
prospects for ASOS. We continue to benefit from the increasing popularity of
online shopping and we have made considerable investments in management,
infrastructure, product ranges and marketing to support and sustain future
growth.
Preliminary Results
ASOS will announce its preliminary results for the year ended 31 March 2008 on
Monday 30 June when it will provide a full overview and update on the business.
For further information contact:
ASOS plc Tel: 020 7756 1000
Nick Robertson, Chief Executive
Jon Kamaluddin, Finance Director
www.asos.com
Cubitt Consulting Tel: 020 7367 5100
Brian Coleman-Smith
Nicola Krafft
James Verstringhe
Seymour Pierce Tel: 020 7107 8000
Mark Percy
Nicola Marrin
Background note
ASOS plc is an Internet Retail business, established in June 2000 and admitted
to AIM in October 2001.
ASOS.com is the UK's largest independent online fashion and beauty retailer.
Aimed primarily at Internet savvy 16-34 year olds, it offers over 8,300 fashion
lines across womenswear, menswear, footwear, accessories, jewellery and beauty.
In addition to its extensive own label ranges, ASOS also sells over 300 designer
brands.
ASOS.com attracts over 2.9m unique visitors a month and, as at 25 April 2008, it
had 1.8m registered users.
This information is provided by RNS
The company news service from the London Stock Exchange