Asos upbeat despite profits slide

Online retailer ASOS has posted a 14% fall in profits after a torrid year in which it was hit by a major warehouse fire and tough overseas trading.

The fashion site, which sells over 75,000 branded and own-brand products to almost nine million customers, racked up sales of £975m in the year to August 31 and growth of 35% in revenues in its key UK market.