Asos reports 19% revenue growth of £3.26 bn in FY20

Asos, a UK-based online retailer for fashion-loving 20-somethings around the world, has announced its final results for the fiscal 2020 ended on August 1. Group revenues for the year jumped 19 per cent to £3.26 billion compared to the revenues of £2.73 billion in previous fiscal. Profit before tax increased to £142.1 million (FY19: £33.1 million).

 

Asos, a UK-based online retailer for fashion-loving 20-somethings around the world, has announced its final results for the fiscal 2020 ended on August 1. Group revenues for the year jumped 19 per cent to £3.26 billion compared to the revenues of £2.73 billion in previous fiscal. Profit before tax increased to £142.1 million (FY19: £33.1 million).#

“After a record first half which saw us make progress in addressing the performance issues of the previous financial year, the second half will always be defined by our response to Covid-19. I am proud of the way Asos met this challenge head on, putting our duty to act as a responsible business at the heart of our approach and working to balance our performance in that context,” Nick Beighton, CEO at Asos, said in a press release.

 

Asos, a UK-based online retailer for fashion-loving 20-somethings around the world, has announced its final results for the fiscal 2020 ended on August 1. Group revenues for the year jumped 19 per cent to £3.26 billion compared to the revenues of £2.73 billion in previous fiscal. Profit before tax increased to £142.1 million (FY19: £33.1 million).#

Gross profit for FY20 grew 16 per cent to £1.54 billion (£1.33 billion). Operating profit for the year was £151.1 million (£35.1 million). Profit for the year was £113.3 million (£24.6 million).

 

Asos, a UK-based online retailer for fashion-loving 20-somethings around the world, has announced its final results for the fiscal 2020 ended on August 1. Group revenues for the year jumped 19 per cent to £3.26 billion compared to the revenues of £2.73 billion in previous fiscal. Profit before tax increased to £142.1 million (FY19: £33.1 million).#

Retail sales in UK grew 18 per cent to £1,175.9 million. For EU, the sales rose 22 per cent while group added 0.3 million new customers in US in the first half reflecting in 18 per cent sales growth. For rest of the world territory, sales during the year increased 18 per cent.

 

Asos, a UK-based online retailer for fashion-loving 20-somethings around the world, has announced its final results for the fiscal 2020 ended on August 1. Group revenues for the year jumped 19 per cent to £3.26 billion compared to the revenues of £2.73 billion in previous fiscal. Profit before tax increased to £142.1 million (FY19: £33.1 million).#

“I am pleased by the improvements we have made this year but there is still more for us to do to continue our progress. Whilst life for our 20-something customers is unlikely to return to normal for quite some time, Asos will continue to engage, respond and adapt as one of the few truly global leaders in online fashion retail,” Beighton said.