ASOS Medium Term Profit Growth Is Better Than Expected Withdrawal From China Without Hindrance.

A few days ago, we reported that ASOS had withdrawn from the Chinese market and chose to close the Chinese website. Now, after a few days' time, ASOS has released its interim earnings report, which shows that it has not dragged the group's performance due to the deterioration of the Chinese market.

It is reported that in the fiscal year ended February 29th, ASOS's revenue increased by 21.2% to 667 million 300 thousand pounds compared to the same period last fiscal year.

On the other hand, there was a good performance record of 20.9% to 648 million 600 thousand, which was up to 24% at a fixed exchange rate.

Among them, strong sales in the UK, recorded a growth of 25.1%, led by the US growth, and even recorded a 34% increase in fixed exchange rate.

The overall gross profit margin increased from 0.5% to 48.7% in the same fiscal year, compared with 48.2% in the previous year.

Affected by the above good news,

Shares opened up 6.5% on that day and 3.547 pence earlier.

In an earlier interview, the group said that although it chose to close the Chinese website, it did not mean that it would withdraw from China, and the group was still preparing for the plan to enter the Chinese market.

The group said that ASOS is moving towards full year sales.

The target is moving steadily and is expected to achieve a 20% sales growth in the current fiscal year.

The current interim profits recorded 17.8% to 21 million 200 thousand pounds.