ASOS Regulatory News (ASC)

28 Apr 2008 07:00

ASOS PLC28 April 2008 Pre-Close Trading Update ASOS plc FOR RELEASE 7.00 am Monday 28 April 2008 ASOS plc A leading Internet based fashion retailer Pre close trading update for the year ended 31 March 2008 * ASOS.com sales for the 12 months to 31 March 2008 up 90% to approximately £81m * Profit before tax expected to be slightly ahead of market expectations * Sales for the 4 weeks to 27 April 2008 up 80% year on year Nick Robertson, Chief Executive, made the following comments. I am delighted to report sales of approximately £81m for the year ended 31 March2008, a 90% increase on the previous year. Consequently, we expect our profitbefore tax to be significantly ahead of market expectations, before accountingfor a one off charge of approximately £1.1m relating to the closure of our oldwarehouse. After this charge, we expect our profit before tax to be slightlyahead of analysts' forecasts. Our gross margin performance will be in line with previous guidance. I can also confirm that the new financial year has started positively with salesfor the four weeks to 27 April up approximately 80% year on year. Despite the uncertain economic conditions, I remain optimistic about theprospects for ASOS. We continue to benefit from the increasing popularity ofonline shopping and we have made considerable investments in management,infrastructure, product ranges and marketing to support and sustain futuregrowth. Preliminary Results ASOS will announce its preliminary results for the year ended 31 March 2008 onMonday 30 June when it will provide a full overview and update on the business. For further information contact: ASOS plc Tel: 020 7756 1000 Nick Robertson, Chief Executive Jon Kamaluddin, Finance Director www.asos.com Cubitt Consulting Tel: 020 7367 5100 Brian Coleman-Smith Nicola Krafft James Verstringhe Seymour Pierce Tel: 020 7107 8000 Mark Percy Nicola Marrin Background note ASOS plc is an Internet Retail business, established in June 2000 and admittedto AIM in October 2001. ASOS.com is the UK's largest independent online fashion and beauty retailer.Aimed primarily at Internet savvy 16-34 year olds, it offers over 8,300 fashionlines across womenswear, menswear, footwear, accessories, jewellery and beauty.In addition to its extensive own label ranges, ASOS also sells over 300 designerbrands. ASOS.com attracts over 2.9m unique visitors a month and, as at 25 April 2008, ithad 1.8m registered users. This information is provided by RNS The company news service from the London Stock Exchange