Online fashion retailer Boohoo (LON:BOO) reported another stellar set of of results on Tuesday, boosted by strong figures from recent acquisition PrettyLittleThing.
Group revenue rose 53 percent to £183.6 million in the half year to May, with the biggest source of growth coming from PrettyLittleThing, which saw a massive 158 percent sales boost.
UK revenues grew by 49 percent, growing even faster in the US by 75 percent. Boohoo itself reported a revenues of £97.2 million, up 12 percent on last year’s Q1 record growth, with PrettyLittleThing revenue hitting £79.2 million.
The group said it expects revenue growth for the full year to be between 35 percent and 40 percent, with adjusted EBITDA margin between 9 and 10 percent.
Mahmud Kamani and Carol Kane, Boohoo’s joint CEOs, commented:
“We are very pleased with the group’s results for the first quarter of the financial year. Our multi-brand strategy is delivering above-market rates of growth globally. Significant market share gains have been achieved in all of our key focus markets, with our compelling combination of the latest fashion at incredible prices, backed by great customer service resonating strongly with our customers.
“We remain highly encouraged by our performance in the first quarter and confident of our expectations for the remainder of the year and beyond as we continue to execute on our winning strategy.”
Shares in Boohoo (LON:BOO) are currently trading 4.22 percent down however, despite the strong figures, at 210.81 (0930GMT).
