Boohoo raises full-year forecast as sales and profits rocket

Online fashion retailer Boohoo.com has raised its full-year guidance after reporting a jump in profits and doubling its sales in the last year.

The Aim-listed company that’s also behind the Nasty Gal and PrettyLittleThing brands said profit before tax climbed 41% to £20.3 million in the six months to August 31.

Meanwhile, revenue soared to £262.9 million, up 106% on the same period last year.

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The group’s revenue growth is now expected to be around 80%, up from its previous guidance of around 60%. Revenue growth from the boohoo brand is expected to be at the upper end of previous guidance at around 30%.

Joint CEOs Mahmud Kamani and Carol Kane said in a statement: “We are pleased to report excellent progress for the group in the first half of the year across all our brands. boohoo’s revenue has continued to grow across all geographies, with international growth being strongest as we continue to increase our market share overseas, and the newly acquired PrettyLittleThing brand has exceeded our growth expectations.”

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One Comment;

  1. David said:

    All of the above sounds great BUT margins are down and so are the shares by around 20% in the last two days!
    Revenue growth is great and margin can be sacrificed short term but investors will want to see this erosion of margin halted. To be fair the growth of Boohoo has been incredible, making even ASOS seem a little pedestrian!

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