Online fashion chain ASOS said second quarter sales momentum improved on the back of a stronger than expected UK performance, particularly over Christmas, and following robust overseas demand.

The London based retailer, who sells clothes aimed at twenty-somethings, said total retail sales rose 37% to £186.5m for the three months ended February 28th 2013, resulting in first half retail sales growth of 34% to £352m.

UK retail sales rose 28% while its international business grew by 45%. The group, which offers free worldwide delivery, said international now accounts for 59% of its total retail sales.

Retail gross margin, which measures profitability, fell 0.5 percentage point as it sold more clothes at a discount. Asos said it expects the retail gross margin to improve during the current year.

Nick Robertson, Chief Executive Officer, said: "Our UK performance remained ahead of expectations, with particularly strong trading during the peak December period. Our EU growth continues to be driven by strong performance in those countries where we have dedicated websites and particularly by our new in-country teams in France and Germany."

"The strength of our UK performance continues to put pressure on our achieved retail gross margin. We expect this to improve during the remainder of the financial year."

Looking ahead it added: "We remain positive in our outlook for the year to August 31st 2013 and continue to trade in line with expectations."


Inland Homes reported a three-fold rise in half-year pre-tax profit on Wednesday on the back of strong land and home sales.

Pre-tax profit for the six months to the end of December 2012 rose to £3.1m from £1.1m for the same period a year earlier.

The UK house builder posted revenues of £19.31m, up from £3.66m in 2011, driven by a £15.35m sale of 355 land plots.

During the period, the company made significant progress on housebuilding projects including 146 homes on four developments.

Inland was also awarded planning permission for building 268 homes at Carters Quay in Poole, Dorset.

Net assets increased to £51.7m, compared to £49.4m the previous year. Trading profit for the period grew to £4.3m from £2.3m.

"I am pleased to report an excellent set of interim results," said Chief Executive, Stephen Wicks.

"Gross profit is up by 87.6% and profit before tax has increased by 183% over the corresponding period last year.

"Our development pipeline from both a housebuilding and a land perspective has never been stronger and we are looking forward to substantial further growth over the coming years."

A dividend of 0.067p was paid to shareholders on December 17th and Inland said it expects to recommend a "substantially increased dividend" for the financial year ending June 30th 2013.

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