Boom for online fashion firm ASOS

ASOS targets 16 to 34 year olds with cut-price versions of celebrity outfits

Online fashion retailer ASOS has reported strong growth in both sales and profits, despite the recent economic slowdown.

The company said pre-tax profits during the six months to October rose 68% to £4.1m ($6.07m).

ASOS, formerly known as As Seen on Screen, sells cut-price versions of designs worn by celebrities.

The firm, which saw sales jump 107% to £67.5m in the period, said it was cautiously optimistic about the future.

ASOS also said its sales were up 104% for the seven weeks to 16 November compared with a year ago.