Boohoo makes strong start to financial year
Boohoo has seen its group revenue climb by 39% to £254.3 million in the three months to 31 May.
Its Boohoo, Pretty Little Thing and Nasty Gal businesses all performed well with respective revenue increases of 27%, 42% and 153%.
Boohoo’s revenue reached £123.5 million in the period while Pretty Little Thing’s revenue came in at £112.1 million after the business experienced growth in all markets.
Meanwhile, Nasty Gal’s revenue was £18.2 million.
John Lyttle, Boohoo chief executive, said: “The group has made a strong start to the year as we continue to disrupt and capture market share in the UK and internationally across all our brands. I’m delighted that the group topped the UK Hitwise rankings in May for the first time, demonstrating how our multi-brand strategy is really capturing our customers’ attention.”
While the group’s UK revenue rose by 27% in the period, international revenue climbed by 56%.
The group also said that it expects group revenue growth to be 25% to 30% with an adjusted EBITDA margin of around 10% for its full year.
Lyttle added: “We have ambitious plans for the group and continue to invest to ensure that our scalable multi-brand platform is well-positioned to disrupt, gain market share and capitalise on the global opportunity in front of us.”
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