Online retailer Asos has revealed a bumper new incentive plan for senior executives following another sharp rise in half-year profits.
Asos also confirmed it will launch a dedicated website for China in October, as well as introducing one in Russia tomorrow.
The group said that 24 executives, including its boss Nick Robertson, have spent more than £5 million of their own money buying shares, as part of the three-year incentive plan that starts this September.
If Asos hits the “stretch” target of sales reaching £1.3 billion and a substantial uplift in earnings per share by 2015, directors could share £33 million, based on today’s share price. But hitting the top target is likely to lead to a much bigger payout, as its share price would almost certainly rise over the period.
Asos, which ships to 241 countries, grew its profits by 19% to £25.7 million over the six months to February 28, on revenue up to sharply to £359.7 million.
