British online fashion firm ASOS (Other OTC: ASOMF.PK - news) has posted a 41pc rise in profits, boosted by international expansion, and said it was on track to deliver on a plan for £1bn of sales by 2015.
ASOS, which targets internet-savvy 16 to 34-year-old women looking to emulate the designer looks of celebrities such as Kate Moss, Sienna Miller and Alexa Chung, but at a fraction of the price, made an underlying pre-tax profit of £28.6m in the year to March 31.
That compares with analysts' average forecast of £27.2m, according to Thomson Reuters I/B/E/S data, and £20.3m made in 2009/10.
Group revenues increased 52pc to £339.7m, with UK retail sales up 25pc and international sales up 142pc, benefiting from the launch of US, French and German websites.
While many UK retailers have struggled against tough macro headwinds, ASOS has prospered, benefiting from a young core customer base and the migration of spending from the high street to the internet.
"We remain positive in our outlook for 2012 and are excited by the opportunities for both our UK and international businesses," said Chief Executive Nick Robertson.
Shares in ASOS have more than trebled over the past year, fuelled by buoyant trading and speculation the firm could attract a bid from companies as diverse as 20.3pc Danish shareholder and supplier Bestseller, US internet giant Amazon and British retailers Marks & Spencer (Dusseldorf: MA6.DU - news) and Tesco (LSE: TSCO.L - news) .
The shares fell 148p to £21.90 in early trading.