Asos reports increased profits

Online fashion retailer Asos recently reported it experienced a 66 percent rise in profits for the first half of 2011, mainly due to strong growth in international online orders.

In the six months leading up to October, Asos's international sales increased 150 percent compared to the same period in 2010, reaching £122 million. Asos's U.K. sales, however, grew 8 percent in the time period to £88.6 million, illustrating how international orders have boosted Asos' business.

International orders now account for 58 percent of retail sales for the company, a 37 percent increase compared to 2010. And every day, nearly two-thirds of the website's traffic is sourced from outside the U.K., with 11 percent of customers browsing Asos products from their smartphones.

Asos has set a company goal of £1 billion in sales by 2015, and also plans to expand its offerings into new countries. Asos has already made plans to open three new country sites by 2015, along with a returns hub in Sydney.