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ASOS sales growth slows, sees year profit in line with forecasts

Reuters - UK Focus

LONDON, July 12 (Reuters) - British online fashion retailer ASOS (LSE: ASC.L - news) said it expected full year profit to be in line with analysts' consensus expectations although sales growth for its latest trading period was just short of market forecasts.

ASOS, which sells fashion aimed at 20-somethings, said total retail sales rose 22 percent to 802.7 million pounds ($1.06 billion) in the four months to June 30.

That compared to analysts' average forecast for growth of 25.8 percent and growth of 27 percent reported in the earlier first half period.

ASOS maintained its guidance for full year 2018 sales growth of 25-30 percent and said pretax profit was expected to be in line with the consensus of 101 million pounds. ($1 = 0.7575 pounds) (Reporting by James Davey; editing by Sarah Young)