By Daniel Hunter

Online fashion retailer Asos has reported a 10% fall in half-year profits, but says it remains upbeat.

Asos reported pre-tax profits of £18 million for the six months to the end of February, down from £20.1m in the same period a year earlier.

But the retailer maintained confidence in hitting its full-year target amid a 17% rise in sales, with currency fluctuations removed, and a 27% rise in the UK.

Asos said international sales are starting to gain momentum as a result of more competitive pricing strategies in different markets.

Chief executive Nick Robertson, said: "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."