Online fashion store Asos doubles profits

UK- based internet fashion retailer Asos more than doubled its profits in the past financial year.

Asos, which targets the 18- to 34-year-old market with a range of cut-price celebrity garments sold over the web, said today it racked up pre-tax profits of £3.4m in the 12 months to March 2007.

This was a 144% rise compared with profits of £1.4m the previous year. Sales were up 116% during the year, at £42.6m.

The strong year-on-year improvement was partly due to the impact of the Buncefield oil depot fire on the previous year's profits. The company was forced to close for five weeks over December 2005 and January 2006, after the roof of its warehouse was destroyed in the blast.

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