Asos boss to leave firm as profits jump

The boss of online fashion giant Asos is leaving the company by mutual consent after six years in the post.

The retailer said Nick Beighton would leave immediately, but would "remain available" to advise the board for the rest of the year.

A search for his replacement is under way but in the meantime chief financial officer Mat Dun will oversee the day-to-day running of the business.

Asos also brought forward its annual results, showing a 25% rise in profits.

Pre-tax income grew to £177m on with "exceptional" sales growth of 36% in the UK.

The company's chairman, Adam Crozier, said: "Asos's management and board have spent considerable time over recent months developing and validating a clear strategic plan to accelerate international growth, building on Asos's undoubted strength in the UK.

"Key to that is ensuring that we have the right leadership in place for the next phase, and the changes we are announcing today are designed to ensure we deliver against our clear strategic intent."

Asos's shares have fallen 42% so far this year.

Mr Beighton, who has been with Asos for 12 years, said in a statement he had enjoyed "every moment" of his time at the firm.

He said when he joined Asos had fewer than 200 people and sales of £220m, turnover was now almost £4bn selling to 26 million customers in 200 countries.