ASOS global sales see 54% boost in six months to February

Fashion retailer ASOS (LSE: ASC.L - news) has seen a 54% boost in its international sales during the six months to the end of February, thanks in part to the weakness in the pound following Brexit.

In interim results published on Tuesday the company said "sterling weakness and the resulting (foreign exchange) benefits" have allowed it to invest more globally and offer products at lower prices outside the UK.

The value of the pound dropped by almost 20% after the result of the EU referendum was announced last June and, although it has recovered slightly, it remains well below its previous levels.

This means that anything bought from the UK by international customers and exported out will cost less, while importing into the UK has become more expensive.

Asos has local language sites in the UK, US, France, Germany, Spain, Italy, Australia and Russia and also offers free delivery to most locations worldwide when a minimum amount is spent - usually around £20.

Excluding the affects of currency fluctuations the company still performed well globally, with the sales boost still equating to 42%.

Nick Beighton, ASOS chief executive, said the firm was pleased with the results.

"These are a strong set of results, showing great progress across the business," he said.

"International growth of 54% has been excellent and with the 'rest of the world' segment a stand out performer.

"Given the current momentum we are seeing, ASOS is making good progress towards its ultimate goal of becoming the world's number one destination for fashion-loving 20-somethings."

The global boost means ASOS' profit before tax for the period was up 14% compared to the same time last year, reaching £27m.

UK retail sales also saw an increase, growing 18% to hit £341m.

The company's statistics on the average amount spent on the site appear to indicate consumer appetite has not taken too much of a hit since last June's vote.

The average basket value of ASOS orders reached £70.86 - a £2 increase - with the average number of items purchased in one online shop growing to 2.76.