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Boohoo expected to post soaring sales

Sales at Boohoo are expected to have almost doubled when the fast fashion etailer posts its full-year results on Wednesday.

City analysts expect revenue to be up by 95% and for pre-tax profits to hit £47m as the etailer continues to invest in its infrastructure, according to City Am.

“Given the sales trajectory of the company we are now entering a phase of increased capital expenditure, as it continues to build out its infrastructure to help facilitate future growth,” said analysts at Shore Capital.

Boohoo has made a multi-million-pound investment at its Burnley distribution centre, increasing capacity by 275,000 sq ft and developing a new automation system, which will go live in 2019.

Revenue was up 51% to £294.6m in the year to February 28 2017, and pre-tax profits were up 97% to £30.9m in the same period. The etailer also saw a 100% rise in group revenue in the four months to 31 December 2017 as it experienced its most successful Black Friday trading period to date.

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