By Thomas Hobbs

Asos posted a 10% decline in first-half profit to £18m for the period, despite increasing group sales by 14% to £550.5m.

Even though it posted a fall in profits, the retailer, which issued three profit warnings last year, marginally beat analyst forecasts of £16.3m in pre-tax profits.

“Spend on international marketing campaigns was limited during the period whilst we focus on restoring the price competiveness of our products,” said Nick Robertson, Asos chief executive.

“Our digital marketing activities have however continued in order to drive awareness and grow our market share.”

Robertson said that earnings were hit by the roll out of Asos’ Read full story ›

Source: Marketing Week