ASOS was hit with supply chain constraints and volatile market demand in the final four months of the year, which it said was driven by a significant increase in Covid-19 caseloads across the UK, Europe, and US.

During the 16-week period to 31 December, total group revenue reached £1.39 billion, up by five per cent in comparison to 2020. ASOS explained that this was in line with guidance, despite industry-wide issues across the supply chain and uncertainty following the discovery of the Omicron variant.

"ASOS has delivered a robust start to the year, in line with the guidance we set out at full-year results, despite challenging market conditions,” said Mat Dunn, chief operating officer, ASOS. “We continued to make progress against our objectives to improve the flexibility and speed of our retail model and accelerate the pace of delivery of our international growth strategy.

“Looking ahead, while mindful of the near-term uncertainty relating to the pandemic, our guidance for the full year remains unchanged.”

The online fashion retailer said that it expected revenue growth for the year in the range of 10 to 15 per cent and pre-tax profits of £110 million -£140 million.

The COO also announced that the company plans to move from AIM, where it’s been for 20 years, to the Main Market of the London Stock Exchange by the end of next month.

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