Belfast Telegraph

Boohoo profits climb by 40%

Online fashion retailer Boohoo has reported surging full-year sales and profits after reaping the rewards of successful acquisitions.

The group reported a 97% increase in revenue to £579.8m in the year to February 28 as pre-tax profit rose 40% to £43.3m.

Growth was helped by the recently acquired PrettyLittleThing, which clocked up a 228% rise in sales to £181.3m.

Joint bosses Mahmud Kamani and Carol Kane said the results had been achieved against the "backdrop of difficult trading in the UK clothing sector".

They added: "The group made great progress during the year, integrating a new company, PrettyLittleThing, and a new brand, Nasty Gal, into the Boohoo group.

"Revenue from Boohoo continued to grow strongly, whilst there has been an exceptional performance from PrettyLittleThing, and Nasty Gal exceeded our estimates."

Belfast Telegraph

Weekly Business Digest Newsletter

This week's business news headlines, directly to your inbox every Tuesday.

Popular