boohoo.com almost doubles its revenue with profits over £500m
Online fashion retailer boohoo has revealed its latest interim results.
Highlights for the Manchester-headquartered brand included revenue almost doubling by 43 per cent, coming in at £564.9m. There has been a supposed ‘strong’ revenue growth across all its other fashion brands, including Nasty Gal and PrettyLittleThing.
In the UK, this overall figure went up 35 per cent, whilst international sales have grown 55 per cent. PrettyLittleThing’s revenue is currently at £237.6m, a major 41 per cent increase. There has been a reported 5.7 million active users on its site, up 43 per cent.
Meanwhile, Nasty Gal’s revenue went up a staggering 148 per cent, with revenue of £43.9m. Around 1.5 million customers have been active on the site.
But going back to boohoo’s overall figures - following its acquisitions of MissPap, Karen Millen and Coast - its group revenue growth is expected to fall between 33 and 38 per cent for the year to February 29, 2020.
Its adjusted EBITDA margin for the financial year is to remain at 10 per cent, whilst a revenue growth of around 25 per cent per annum is expected.
John Lyttle, boohoo’s CEO, concluded: “It has been a fantastic first half of the year for the group. We have delivered significant market share gains across our key markets, and for the first time in our history, revenue has exceeded £1bn in the last 12 months.
“We have delivered strong growth and operating leverage in our more established brands and will continue to invest in both our more established and newly-acquired brands.
“We enter the second half of the year well-placed and confident that our platform, which combines the latest fashion, great prices and excellent customer service, all underpinned by a well-invested infrastructure, will deliver further market share gains.”
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