Asos boss receives £25m shares bonus as retailer profits double
NICK Robertson, the co-founder and chief executive of Asos, has been awarded almost £25m worth of shares after the online fashion retailer reported a near doubling of profits and strong overseas growth.
Seven executives at the company have pocketed £66m in shares after reaching all of the targets set out in a three-year incentive plan.
The internet shopping site for twenty-somethings enjoyed a near-ten per cent rise in shares yesterday as it posted a 43 per cent jump in profits to £40.9m in the year to 31 March, benefitting from the launch of country specific sites in Australia, Spain and Italy and the opening of new, larger warehouse in Barnsley last year.
Robertson, however, was bearish on prospects for growth in the UK, reporting a seven per cent rise in retail sales compared with 103 per cent in overseas sales, which now account for 59 per cent of sales from 43 per cent last year.