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Revenue rises at Boohoo Group

Group revenue at Boohoo Group rocketed by 44% across all regions in the four months to 31 December.

Revenue at flagship brand Boohoo was up 15% to £163.5m and gross margins up 150 basis points to 52.2%.

At PrettyLittleThing, revenue jumped 95% to £144.2m and gross margin was up 110 basis points to 56.4%.

Nasty Gal, which Boohoo Group acquired in 2017, saw revenue rise by 74% to £20.6m and gross margins were up by 54.4%.

The fast fashion group now expects revenue growth for its financial year to 28 February 2019 to be up by between 43%-45%, compared to previous estimates of 38%-43%.

Adjusted EBITDA margins are now expected to be between 9.25% and 9.75%, narrowing the range from previous forecasts of 9% to 10%.

Joint chief executive officers Mahmud Kamani and Carol Kane said: “The global growth opportunity is significant, and we will be addressing it in a controlled way - investing in our proposition, operations and infrastructure to capitalise on the opportunity.”

Boohoo will welcome former Primark chief operating officer John Lyttle as group chief executive in March this year. Kamani will become group chief executive chairman and Kane will take up an executive director role.


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