Revenue up 25% at boohoo.com

Revenue up 25% at boohoo.com

Fashion retailer boohoo.com plc has announced record revenues for all its brands.

In its trading statement for the four months to 31 December 2017, the group reports strong revenue growth of 100% spread across all geographic regions.

In what the business is calling a ‘highly successful trading period’, it recorded a strong balance sheet with net cash of £127m.

Boohoo saw revenue surge 25% to hit £125.6m, while PrettyLittleThing saw its revenue hit 73.8m, representing a 191% increase. Nasty Gal, which was acquired by the group in February 2017, saw revenue increase month-on-month to £11.9m.  

Group revenue growth for this financial year is now expected to be around 90%, ahead of previous guidance of around 80%, which was raised from 60% at the group’s interim results in late September.

It now expects group adjusted EBITDA margins to be between 9.25% and 9.75%, narrowing the range from the 9% to 10% as guided at its interim results.

Mahmud Kamani and Carol Kane, joint CEOs, commented: "We are delighted to report another set of strong financial and operational results, with record sales in the four months to December across all our brands. The Black Friday period was our most successful ever and we traded well throughout the period under review.

“boohoo has continued to perform well, delivering strong revenue growth on increasingly challenging comparatives last year. PrettyLittleThing has continued to deliver exceptional results and Nasty Gal is making excellent progress in its first year. Our focus remains on the customer proposition: offering the best range of the latest fashion at affordable prices, coupled with great customer service."