// Asos CEO Nick Beighton increased stake after successful Christmas period
// Asos’ total revenue rose to £1.11 billion in the four months to December 31
// Beighton purchased 1629 shares in Asos for just over £49,800 after the report
Asos group chief executive Nick Beighton has increased his stake in the company after it reported a strong Christmas trading period.
Despite disappointing first-half results in March and a profit warning in July, Asos’ total revenue, including revenues from third parties, rose to £1.11 billion in the four months to December 31.
Revenue growth came in comfortably ahead of expectations at 20 per cent, driven primarily by a strong Black Friday weekend.
- Asos Black Friday sales smash £1bn despite profit warnings
- Asos trialing reusable mail bag for customers as it signs landmark plastics pledge
Following the trading report, Beighton purchased 1629 shares in the fast-fashion retailer for just over £49,800.
He now holds 174,128 shares in the company, equivalent to 0.2 per cent of the group’s shares in issue.
Beighton, who was promoted to chief executive in 2015, joined Asos in 2009 as finance director, before serving as value fashion retailer Matalan’s head of finance.
While Asos has attracted investors in the past, its share price has fallen considerably from the 7500p-plus highs since early 2018, and while its business continues to grow, it has fallen behind the likes of Boohoo, whose owners Mahmud Kamani and Carol Kane sold 50 million shares worth £142.5 million in cash after the retailer’s stock price hit a record high of 315.5p in December.
The founders shares were placed at 285p and sold to institutional investors in a move that raised £99.75 million for Kamani and £42.75 million for Kane.