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Boohoo.com reports strong revenue growth

Boohoo.com saw its revenue climb by 35% to £90.8 million in the first half of its financial year as the online fashion retailer grew its number of customers by 32% in the period.

GENERAL MERCHANDISE

Boohoo.com reports strong revenue growth

Boohoo.com saw its revenue climb by 35% to £90.8 million in the first half of its financial year as the online fashion retailer grew its number of customers by 32% in the period.

In the six months to 31 August, UK revenue increased by 30% as the improved momentum seen in the first quarter continued.

Growth in the rest of Europe was 19% although trade was impacted by the weak euro. Revenue in the Rest of the World climbed by 65% driven by a strong performance in the retailer's Australian and US markets.

International sales now represent 35% of total revenue.

Meanwhile, pre-tax profit climbed by 39% to £6.3 million.

The company said its core womenswear ranges of dresses, tops, jackets and footwear all performed well, as did its petite and plus size ranges.

Mahmud Kamani and Carol Kane, joint chief executives of Boohoo.com, said: "We are pleased to report a successful first half, with strong revenue growth driven by acquiring new customers through our investments in price, promotions and marketing spend. We continue to invest in our brand internationally and our strategy to focus on key markets where we see the greatest growth potential remains unchanged.

“The autumn/winter marketing campaign #WeAreNow is supporting a good start to the second half. We are also pleased with the response to our new app and responsive websites and will continue to invest in building customer value and market reach in the second half of the year."

 

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