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Boohoo profits to double

Boohoo is expected to reveal that profits almost doubled to £30m, while sales jumped 50% to £300m, when it reports its full-year results later this week.

The etailer’s share price has tripled in that last month, valuing the business at more than £2bn, the Mail on Sunday reports.

Stockbroker Peel Hunt expects the Manchester-based business to upgrade its profit forecasts for the current financial because of growth in the US.

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