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Boohoo's EBITDA soars 200%

Etailer Boohoo’s earnings jumped by more than 200% over the last year driven by its expanding customer base.

The young fashion site, which launched on the London Stock Exchange earlier this month, has revealed that EBITDA grew by more than 200% in its year to February 28, meeting market expectations.

Boohoo did not disclose a figure for the year, however last year it made £3.9m.

Unaudited turnover rose 62% to more than £109m.

In a statement the company said: “This continued strong growth is being generated by Boohoo.com’s rapidly expanding customer base both in the UK and overseas.”

The etailer launched its listing at 50p on March 14, but on Friday shares closed at 51p, valuing the business at £572m.

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