That changed in mid-April, culminating in a 19-month high of £2.51 at the end of that month following its full year results. boohoo shares now sit at a current trading price of £2.31.
Basically everything about boohoo’s final results on April 24th impressed. Revenue was up 48% to £856.9 million against the 45.5% increase forecast, with gross profit leaping 53% to £469 million following a 190bps improvement to the gross margin to 54.7%. Pre-tax profit, meanwhile, rose 38% to £59.9 million, lagging behind forecasts of a 55% surge.
Once again PrettyLittleThing was the driving force behind the company’s revenue growth, with the brand posting a 107% jump in sales to £374.4 million. That was ahead of both Nasty Gal, which was up 96% to £47.9 million, and a far slower – but still enviable compared to its bricks and mortar peers – 16% increase at boohoo to £434.6 million.
As for its guidance, it said trading in the first few weeks of the financial year had been ‘encouraging’, meaning group revenue is forecast to rise 25% to 30% year-on-year. Adjusted EBITDA margin is expected to be at around 10%, while boohoo is looking to spend £50 million to £60 million.
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