Boohoo reports £183.6m revenue jump
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Online fashion retailer Boohoo has reported a 53% increase in total revenue for the first quarter of the 2019 financial year.
The group said that for the full financial year it continues to expect group revenue growth to be around 40%, with an adjusted EBITDA margin between 9% to 10%.
Mahmud Kamani and Carol Kane, joint CEOs, said: “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.
“The scale of group revenue is aligning with our ambition to become one of the dominant global online retailers and our focus on profitability continues to deliver industry leading
margins.”
They added: “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.”
