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Boohoo doubles revenues

Boohoo Group has announced soaring revenues across all brands, seeing a 100% rise in total group revenue for the four months to 31 December 2017.

Group total revenue for the period hit £228.2m, up from £114.3m, with strong performances across all regions. Total UK revenue was up 107% to £135.7m, with the US also performing strongly, seeing a revenue rise of 102% to £39.6m.

Total group sales for the ten months to 31 December also rose, up 103% to £491.1m. Boohoo Group now expects to see revenue growth of 90% for the financial year, revising up its previous expectations of 80% growth.

Within the individual brands, Boohoo saw revenue of £142.6m for the period, up 25%, with the brand’s sales for the financial year so far sitting at £324.4m, up 34% compared to the previous year.

PrettyLittleThing, which the Boohoo Group acquired last year, also saw a revenues leap, up 191% to £73.8m. Nasty Gal, which Boohoo also acquired last year, reported revenue for the Christmas period of £11.9m.

Commenting on the results, Mahmud Kamani and Carol Kane, joint CEOs, 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.

”Our focus remains on the customer proposition: offering the best range of the latest fashion at affordable prices, coupled with great customer service.”

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