ASOS lifts profit forecast on strong sales

London

BRITISH online clothing retailer ASOS said demand for cut-price fashions abroad and strong trading at home meant annual sales growth would hit the top of forecasts, with profits also expected to edge up.

ASOS, which counts US First Lady Michelle Obama among its fans, forecast on Tuesday full-year sales at the higher end of its 15-20 per cent growth range and a pre-tax profit of £47 million (S$98 million), up from £45 million previously.