Boohoo has reported strong growth in its sales and pre-tax profits for the year to 28 February. Revenue grew to £283.4 million, up by 45 per cent over the previous year with 33 per cent growth in UK sales, 50 per cent growth in European sales, 140 per cent from the US and 40 per cent from the rest of the world.
During the year the business had acquired both the Pretty Little Thing and Nasty Gal brands. Joint chief executives Carol Kane and Mahmud Kamani commented on the impact of the acquisitions saying “Both brands have huge potential and the acquisitions represent a step change in the size, structure and operation of the group. We are confident that our expertise combined with the strength and following of our new complementary brands will greatly enhance the group’s future growth and profitability.”
Primary brand Boohoo had achieved outstanding growth, they said and enjoyed increased profitability during the year with growth in the UK proving to be strong. The current year is also understood to have been strong to date and forecasts are for 50 per cent revenue growth for the group for the full year.
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