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ASOS UPBEAT ; COMPANIES TODAY [Newcastle Journal (England)]
[October 22, 2014]

ASOS UPBEAT ; COMPANIES TODAY [Newcastle Journal (England)]


(Newcastle Journal (England) Via Acquire Media NewsEdge) Online retailer ASOS has posted a 14% fall in profits after a torrid year in which it was hit by a major warehouse fire and tough overseas trading.

The fashion site, which sells over 75,000 branded and own-brand products to almost nine million customers, racked up sales of Pounds 975m in the year to August 31 and growth of 35% in revenues in the UK.

But pre-tax profits fell to Pounds 46.9m as ASOS counted the cost of investment in its warehouses around the world and the impact of difficult trading conditions in Australia, China and Russia.



Chief executive Nick Robertson said a period of major investment had come at a short term cost but that there would be "significant" medium-term benefits.

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