ASOS first-half profit falls 10%

British online fashion retailer ASOS said it was confident its full-year profit and margin would be in line with expectations as it posted a 10 percent decline in first-half profit.

The firm, which issued three profit warnings last year, said on Wednesday it made a pretax profit of 18 million pounds ($27 million) in the six months to Feb. 28.

Jonathan Leibson | WireImage | Getty Images

That compared to analysts' average forecast of 16.3 million pounds and 20.1 million pounds made in the same period in its previous financial year.

"With our continued investment in our international price competitiveness gaining traction, momentum in the business is building. This gives us confidence in the outlook for the second half," said Chief Executive Nick Robertson.

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