Group Revenues are up 30% for the final 4 months of 2017, boosted by EU sales growth of 42%.
Companies: ASOS Plc
AIM giant ASOS (LON: ASC) has released a brief Trading Update this morning, highlighting the Group's continued domination of the fast fashion e-commerce world.
The update, covering the four months to December 31st and the crucial Christmas period, reported total Group sales growth of 30% to £808m, bolstered by a 42% jump in EU sales.
Here in the UK sales jumped 23% while in the US and ROW sales grew by 24% and 34% respectively.
Despite the healthy growth the figures failed to woo investors with the Group's share price seeing only a marginal 1% rise.
The Group's forecast growth has been baked into its share price for some time now and trades on a forecast PE ratio of 65x.
Management has left its FY18 guidance unchanged today, however, full-year capex is now expected to be "around the upper end of the previously indicated range of £200-220m."
CEO of AIM's largest company, Nick Beighton commented:
"I'm pleased to report a strong performance during the period including peak. We achieved an exceptional performance in the UK, whilst momentum in international sales continued. We acquired 2.6 million active customers year on year and saw encouraging movements across all key customer KPIs.
Velocity in our technology programmes continued, with a record number of releases. Our customer proposition was further enhanced in the U.K. with the launch of Try Before You Buy and ASOS Instant, our same day delivery proposition.
The company has already featured heavily in the press in 2018, being criticised for selling an "insensitive" belt-like choker while being praised for featuring a disabled model.
The Group is forecast to report Revenues of almost £2.5bn and a Net Profit of c. £83m in its upcoming full-year results. This represents growth of 27% and 26% respectively.
