October 17, 2018 / 6:15 AM / a month ago

ASOS full-year profit up 28 pct, says potential is "huge"

LONDON, Oct 17 (Reuters) - British online fashion retailer ASOS narrowly beat forecasts with a 28 percent rise in 2017-18 profit, maintained guidance for its new financial year and said its potential was “huge”.

ASOS, which sells fashion aimed at twentysomethings, made a pretax profit of 102 million pounds ($134.4 million) in the year to August 31 - ahead of analysts’ average forecast of 101 million pounds and 80 million pounds made in 2016-17.

Retail sales rose 26 percent to 2.36 billion pounds - in line with guidance issued in July.

ASOS forecast sales growth of 20-25 percent for the 2018-19 year and said it expected to grow at that rate for the medium term. ($1 = 0.7591 pounds) (Reporting by James Davey, Editing by Paul Sandle)

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