ASOS PLC 
By ASOS plc
("ASOS or the "Company")
Change in Accounting Reference Date
ASOS, the AIM-quoted Global Online Fashion Store, announces that it has changed its accounting reference date and financial year end from 31 March to 31 August. The Board has taken this decision to enable the Company's external reporting period to align with the buying seasons in the fashion industry.
As a result of this change the Company's reporting calendar will be as follows:
· Audited results for the 5 month period to 31 August 2012 to be announced by the end of October 2012.
· Unaudited results for the 6 month period to 28 February 2013 to be announced by the end of April 2013.
· Audited results for the 12 month period to 31 August 2013 to be announced by the end of October 2013.
Attached to this announcement is unaudited pro forma consolidated financial information for the Company for the three years ended 31 August 2011.
26 April 2012
For further information:
ASOS plc | Tel: 020 7756 1017 |
Nick Robertson, Chief Executive | |
Nick Beighton, Finance Director | |
College Hill | Tel: 020 7457 2020 |
Matthew Smallwood / Justine Warren / Jamie Ramsay | |
JPMorgan Cazenove | Tel: 020 7742 4000 |
Luke Bordewich / Gina Gibson | |
Numis Securities | Tel: 020 7260 1000 |
Alex Ham |
ASOS PLC
Unaudited pro forma quarterly retail sales
Unaudited pro forma retail sales by quarter for the financial year ended 31 August 2011
£'000s | Q1 | YOY% | Q2 | YOY% | Q3 | YOY% | Q4 | YOY% | 2010/11 | YOY% |
UK sales | 47,383 | 23% | 52,857 | 20% | 43,087 | 20% | 43,421 | 1% | 186,748 | 16% |
International sales | 33,680 | 128% | 47,719 | 161% | 56,897 | 154% | 64,050 | 153% | 202,346 | 151% |
- US sales | 4,186 | 254% | 6,365 | 227% | 7,480 | 176% | 7,919 | 144% | 25,950 | 186% |
- EU sales | 18,647 | 79% | 23,576 | 105% | 23,714 | 68% | 25,110 | 77% | 91,047 | 81% |
- ROW sales | 10,847 | 241% | 17,778 | 265% | 25,703 | 363% | 31,021 | 295% | 85,349 | 298% |
Total retail sales | 81,063 | 53% | 100,576 | 62% | 99,984 | 71% | 107,471 | 58% | 389,094 | 61% |
Unaudited pro forma retail sales by quarter for the financial year ended 31 August 2010
£'000s | Q1 | YOY% | Q2 | YOY% | Q3 | YOY% | Q4 | YOY% | 2009/10 | YOY% |
UK sales | 38,381 | 21% | 43,963 | 14% | 35,940 | 25% | 42,877 | 22% | 161,161 | 20% |
International sales | 14,773 | 118% | 18,296 | 73% | 22,390 | 106% | 25,313 | 137% | 80,772 | 108% |
- US sales | 1,184 | 78% | 1,949 | 95% | 2,706 | 174% | 3,249 | 267% | 9,088 | 157% |
- EU sales | 10,408 | 102% | 11,482 | 38% | 14,137 | 72% | 14,204 | 82% | 50,231 | 70% |
- ROW sales | 3,181 | 231% | 4,865 | 301% | 5,547 | 242% | 7,860 | 301% | 21,453 | 273% |
Total retail sales | 53,154 | 38% | 62,259 | 27% | 58,330 | 47% | 68,190 | 49% | 241,933 | 40% |
Unaudited pro forma retail sales by quarter for the financial year ended 31 August 2009
£'000s | Q1 | YOY% | Q2 | YOY% | Q3 | YOY% | Q4 | YOY% | 2008/09 | YOY% |
UK sales | 31,813 | 99% | 38,648 | 85% | 28,806 | 47% | 35,048 | 31% | 134,315 | 62% |
International sales | 6,780 | 251% | 10,549 | 325% | 10,843 | 198% | 10,661 | 102% | 38,833 | 192% |
- US sales | 667 | 361% | 1,000 | 453% | 989 | 322% | 886 | 149% | 3,542 | 287% |
- EU sales | 5,152 | 242% | 8,336 | 315% | 8,233 | 177% | 7,813 | 86% | 29,534 | 176% |
- ROW sales | 961 | 249% | 1,213 | 317% | 1,621 | 282% | 1,962 | 177% | 5,757 | 239% |
Total retail sales | 38,593 | 116% | 49,197 | 111% | 39,649 | 71% | 45,709 | 43% | 173,148 | 80% |
ASOS PLC
Unaudited pro forma Statement of Comprehensive Income
Year ended 31 August 2011
H1 £'000 | H2 £'000 | FY £'000 | H1 Growth % | H2 Growth % | FY Growth % | |
Revenue | 189,352 | 213,656 | 403,008 | 53% | 58% | 56% |
Cost of Sales | (99,095) | (106,291) | (205,386) | 56% | 66% | 61% |
Gross profit | 90,257 | 107,365 | 197,622 | 50% | 51% | 50% |
Administrative expenses excluding exceptional items | (74,456) | (91,097) | (165,553) | 55% | 55% | 55% |
Operating profit before exceptional items | 15,801 | 16,268 | 32,069 | 30% | 33% | 32% |
Share of post-tax gains/(losses) of joint venture | 63 | (16) | 47 | |||
Net finance costs | (145) | (275) | (420) | |||
Profit before tax and exceptional items | 15,719 | 15,977 | 31,696 | 30% | 31% | 31% |
Exceptional items | (11,535) | (7,530) | (19,065) | |||
Profit before tax | 4,184 | 8,447 | 12,631 | (65%) | (30%) | (48%) |
Income tax expense | (1,272) | (2,594) | (3,866) | |||
Profit after tax | 2,912 | 5,853 | 8,765 | (66%) | (32%) | (49%) |
Diluted underlying EPS | 27.9p | 27% |
ASOS PLC
Unaudited pro forma Statement of Comprehensive Income
Year to 31 August 2010
H1 £'000 | H2 £'000 | FY £'000 | H1 Growth % | H2 Growth % | FY Growth % | |
Revenue | 123,861 | 135,038 | 258,899 | 28% | 43% | 35% |
Cost of Sales | (63,560) | (63,890) | (127,450) | 28% | 33% | 31% |
Gross profit | 60,301 | 71,148 | 131,449 | 28% | 53% | 41% |
Administrative expenses | (48,183) | (58,954) | (107,137) | 21% | 41% | 31% |
Operating profit | 12,118 | 12,194 | 24,312 | 65% | 161% | 103% |
Share of post tax gains/(losses) of joint venture | 5 | (50) | (45) | |||
Net finance income | 1 | 7 | 8 | |||
Profit before tax | 12,124 | 12,151 | 24,275 | 65% | 159% | 102% |
Income tax expense | (3,507) | (3,567) | (7,074) | |||
Profit after tax | 8,617 | 8,584 | 17,201 | 66% | 157% | 101% |
Diluted underlying EPS | 22.0p | 100% |
Year to 31 August 2009
H1 £'000 | H2 £'000 | FY £'000 | H1 Growth % | H2 Growth % | FY Growth % | |
Revenue | 96,819 | 94,338 | 191,157 | 108% | 53% | 77% |
Cost of Sales | (49,668) | (47,959) | (97,627) | 124% | 68% | 92% |
Gross profit | 47,151 | 46,379 | 93,530 | 94% | 40% | 63% |
Administrative expenses | (39,815) | (41,713) | (81,528) | 85% | 45% | 62% |
Operating profit | 7,336 | 4,666 | 12,002 | 164% | 10% | 71% |
Share of post tax losses of joint venture | (78) | (74) | (152) | |||
Net finance income | 86 | 92 | 178 | |||
Profit before tax | 7,344 | 4,684 | 12,028 | 147% | 5% | 62% |
Income tax expense | (2,141) | (1,349) | (3,490) | |||
Profit after tax | 5,203 | 3,335 | 8,538 | 156% | 6% | 65% |
Diluted underlying EPS | 11.0p | 63% |
ASOS PLC
Unaudited pro forma Statement of Financial Position at 31 August 2011
31 August 2011 £'000 | |
Goodwill | 1,060 |
Property, plant and equipment and other intangible assets | 38,638 |
Deferred tax asset | 16,346 |
Non-current assets | 56,044 |
Assets classified as held-for-sale | 2,800 |
Working capital | 5,756 |
Net funds | 4,183 |
Derivative financial assets | 192 |
Current tax asset | 4,903 |
Net current assets | 17,834 |
Net assets | 73,878 |
ASOS PLC
Unaudited pro forma Statement of Cash Flows for the Year Ended 31 August 2011
31 August 2011 £'000 | |
Operating profit | 13,004 |
Exceptional items | 19,065 |
Operating profit before exceptional items | 32,069 |
Depreciation and amortisation | 6,011 |
Working capital | 14,745 |
Share-based payment charges | 1,105 |
Tax paid | (3,930) |
Cash inflow from operating profit before exceptional items | 50,000 |
Operating cash outflow relating to exceptional items | (16,008) |
Cash inflow from operating profit | 33,992 |
Capital expenditure | (32,477) |
Proceeds from issue of ordinary shares | 1,094 |
Purchase of own shares by Employee Benefit Trust | (1,349) |
Drawdown of revolving credit facility | 10,000 |
Net interest paid | (420) |
Total cash inflow | 10,840 |
This information is provided by RNS
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