ASOS' (ASOMF) CEO Nick Beighton on Full Year 2016 Results - Earnings Call Transcript

Oct. 18, 2016 12:35 PM ETASOS Plc (ASOMF)
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ASOS Plc. (OTCPK:ASOMF) Full Year 2016 Earnings Conference Call October 18, 2016 4:30 AM ET


Nick Beighton - CEO

Helen Ashton - CFO


Claire Huff - RBC Capital Markets

Jamie Merriman - Bernstein

Anne Critchlow - SG Securities

Angus Tweedie - Bank of America Merrill Lynch

John Stevenson - Peel Hunt

Andreas Inderst - Macquarie

Adam Cochrane - UBS

Georgina Johanan - JPMorgan

Charlie Muir-Sands - Deutsche Bank

Michelle Wilson - Berenberg

Simon Bowler - Exane

Nick Beighton

Good morning, and welcome everybody. Great to see you. So, just going to take you through a brief introduction and then I’ll hand over to Helen.

So it’s been another strong results. We’ve accelerated momentum throughout the year and our financial performance has landed exactly where we expected it to be and slightly ahead of consensus. Total sales were up 26%, up from 21% in the half-one, and PBT growth on continuing basis up 37%. And you also see we closed the year very strongly with a 33% growth in the final two months.

Our mission is very clear and our objectives are building and enhancing the ASOS three Ds, i.e., desirability, differentiation and therefore defensibility is accelerating at a velocity greater than ever before. Our underlying profit growth this year has been very strong. It’s the output of our discipline. We've achieved this strong profit growth alongside a significant acceleration and the underlying customer investment in our product, in our prices, in our delivery and in our return solutions, also in our customer experience at content and our mobile experience.

The pace of change in logistics and tech is faster than ever before, and all our major logistics and tech programs remain firmly on track. Mobile traffic has led forward again this year and now accounts for nearly 70% of our group

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