Companies: ASC   

While the high street stores have been suffering, internet-based fashion retailer ASOS has been sashaying its way into profits. For the eight weeks to 31 December, ASOS, formerly known as asSeenonScreen, enjoyed a stylish 75% increase in like-for-like sales and maintained gross margins at 48.5%. With 265,000 registered users, the company achieved all delivery and customer care targets during the period. Specialising in clothing, accessories and lifestyle products which have been inspired by celebrities, ASOS has also introduced more basic styles to help increase basket values and keep levels of returns low. Over the Christmas period, there was a 13% reduction in return levels. ASOS has also managed to turn around a precarious cash position. In June, the company was down to its last £2,000. But, a placing in July raised £215,583, net of costs and with continued positive cashflow, ASOS now has £1.2m in the bank. Talk of selling the non-core Entertainment Marketing, which specialises in TV public relations and brand replacement has been quiet of late. Nonetheless, ASOS is is expected to report results in line with market expectations. Broker Seymour Pierce has forecast first time pre-tax profits of £400,000, growing to £1.5m in 2005. Worth a punt.

ASOS	AIM	£194.5m	266.75p	-9.25p
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