ASOS PLC on Thursday reported a more-than-tripled pretax profit for the first half of fiscal 2021 thanks to higher revenue and 25% growth in sales.
The online fashion retailer made a pretax profit of 106.4 million pounds ($146.2 million) for the six months ended Feb. 28, compared with GBP30.1 million a year before.
Revenue rose to GBP1.98 billion from GBP1.60 billion a year earlier, with sales up 39% in the U.K., 18% in Europe, 16% in the U.S. and 16% in the rest of the world.
The company said that it has increased its expectations for the full year in line with its first-half outperformance, but that its outlook for the second half remains unchanged.
“Looking ahead, while we are mindful of the short-term uncertainty and potential economic consequences of the continuing pandemic, we are confident in the momentum we have built, and excited about delivering on our ambition,” Chief Executive Nick Beighton said.
It added that its plans for integrating the Arcadia brand Topshop–which it acquired on Feb. 1 along with other Arcadia brands Topman, Miss Selfridge and HIIT for GBP265 million–are progressing well, and that one-off acquisition and integration costs are now expected to be GBP10 million, down from GBP20 million.
Write to Joe Hoppe at joseph.hoppe@wsj.com
