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Boohoo enjoys record revenues

Listed fashion company Boohoo has posted record revenues during its latest financial period having enjoyed one of its most “successful ever” Black Fridays.

For the four months to 31 December 2017, the Burnley Bondholder company reported total group revenue of £228m compared to £114m during the same period the year before.

UK income was up from £65.5m to £135.7m, European sales from £14m to £28.2m, US trade from £19.3m to £39.6m and rest of the world turnover from £15.6m to £24.7m.

Revenue at Boohoo was up 25 per cent to £142.6m, while sales at PrettyLittleThing, which boohoo acquired a majority stake in during late 2016, increased 191 per cent to £73.8m.

Turnover at the Nasty Gal brand was £11.9m, increasing month-on-month from start-up in March 2017.

The group now expects total revenue growth to be about 90 per cent, ahead of its previous guidance of about 80 per cent, which was raised from 60 per cent during its interim results in late September.

Mahmud Kamani and Carol Kane, joint chief executives, said: “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.”

Original story: Insider Media