Alibaba on track to post nearly 50% growth


China‘s global ecommerce marketplace Alibaba has forecasted its revenue growth to be around 45 per cent and 49 per cent this year, suggesting sales of up to £26.53 billion.

This comes in significantly above analyst expectations of £24.23 billion and reportedly drew gasps from investors at the groups headquarters.

According to chief financial officer Maggie Wu, this will be the company‘s biggest underlying rise in sales  since its IPO in 2014.

Last year Alibaba achieved a 56 per cent revenue growth, but this figure included the acquisition of South East Asian company Lazada, consolidating the two company‘s figures. Wu says that without this the figure stood at around 44-45 per cent.

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