Online & Digital

Boohoo revenues surge 48% in 2018

Online fashion retailer Boohoo has reported a 48% increase in revenues to £856.9m for the year ending 28 February 2019.

Pre-tax profit also jumped 39% to £59.9m, and adjusted EBITDA increased to £84.5m, 9.9% of revenue, compared with the £56.9m reported the previous year. Additionally, its PrettyLittleThing and Nasty Gal brands both reported revenue increases of 107% to £374m and 96% to £47.9m respectively during the period.

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The online retailer said trading in the first few weeks of the new financial year has been “encouraging”, and group revenue growth for the year is expected to be 25% to 30% – with an adjusted EBITDA margin of around 10% and capital expenditure in the region of £50 to £60m.

John Lyttle, CEO, said: “I am very excited to have joined the Boohoo group at this key stage of its growth, with the group’s disruptive and proven business model having delivered yet another excellent set of financial and operational results.

“In my short time within the business, I am delighted to have been able to meet a number of hugely talented people and have already been able to see many parts of the business.”

He added: “This has confirmed my belief and optimism that the group’s investments into its brands and infrastructure have allowed it to develop a scalable multi-brand platform that is well-positioned to disrupt, gain market share and capitalise on what is a truly global opportunity.”

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