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Boohoo posts surge in first half profit

Boohoo saw its first half pre-tax profit climb by 83% to £45.2 million after achieving strong growth across all of its brands. In the six months… View Article

FASHION

Boohoo posts surge in first half profit

Boohoo saw its first half pre-tax profit climb by 83% to £45.2 million after achieving strong growth across all of its brands.

In the six months to 31 August, revenue at the Boohoo fashion retailer rose by 34% to £281 million while revenue at Pretty Little Thing increased by 41% to £237.6 million.

Meanwhile, Nasty Gal revenue was up 148% to £43.9 million.

John Lyttle, Boohoo chief executive, said: “It has been a fantastic first half of the year for the group. We have delivered significant market share gains across all of our key markets, and for the first time in our history, revenue has exceeded £1 billion in the last 12 months.”

While UK revenue rose by 35%, there was more growth internationally where sales increased by 55%. International sales now account for 44% of group revenue.

During the period, Boohoo acquired the MissPap, Karen Millen and Coast brands.

Looking ahead to the second half, Lyttle added: “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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