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Boohoo group plc has revealed it expects adjusted EBITDA for the 12 months ending 28 February 2022 (FY22) to reach approximately £125m, subject to audit, which is in line with prior guidance issued in December and market expectations.
The announcement comes as Boohoo reported sales growth of 14% in FY22, up 61% on a two-year basis.
Additionally, the online retailer delivered growth of 7% in the fourth quarter (Q4) of 2021 and growth of 48% on a two-year basis.
Q4 also saw “strong” gross sales growth of 26% year-on-year, and 57% on a two-year basis.
However, sales in the quarter were impacted by higher returns rates year-on-year due to product mix, and Boohoo said this is expected to continue in the first half of FY23.
Boohoo said the group “continues to deliver a strong trading performance” in the UK, while international performance continues to be impacted by longer customer delivery times due to pandemic-related supply chain pressures.
Meanwhile, in Q4 the group saw a return to growth in ROW due to the “positive” contribution from wholesale.
John Lyttle, group CEO, said: “The group has delivered strong growth over the last two years, which has translated into significant market share gains.
“We are confident that pandemic-related headwinds are short-term in their nature, and our focus is to ensure the business is well positioned for growth as these headwinds ease.”
