// Boohoo records £45.2m in half-year pre-tax profit – 83% surge
// Revenue jumps 43% to £564.9m while EBITDA is up 53% to £60.7m
// During the half-year period, Boohoo acquired MissPap, Karen Millen & Coast
Boohoo has once again shown to be one of the best-performing businesses on the UK stock market after posting soaring profits and revenues in its half-year report.
For the six-month period ending August 31, Boohoo booked an overall pre-tax profit of £45.2 million – a surge of 83 per cent year-on-year.
On an adjusted basis, the company’s pre-tax profit grew 45 per cent year-on-year to £51.8 million.
Meanwhile, total revenue for the half-year period increased 43 per cent to £564.9 million, and adjusted EBITDA jumped 53 per cent year-on-year to £60.7 million.
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Boohoo saw strong revenue growth across all of its online retail brands, which includes Nasty Gal, PrettyLittleThing, and the eponymous Boohoo.
For the Boohoo brand on its own, half-year revenue grew 34 per cent to £281 million, and active users increased 20 per cent to 8.4 million people.
At PrettyLittleThing, half-year revenue surged 41 per cent year-on-year to £237.6 million and active customers jumped 43 per cent to 5.7 million.
While Nasty Gal’s revenues of £43.9 million is small compared to its stablemates, it had still skyrocketed 148 per cent year-on-year. Active customers also more than doubled to 1.5 million.
The half-year period also saw Boohoo acquire online retailer MissPap, as well as the online businesses and intellectual properties of Karen Millen and Coast via an £18.2 million pre-pack administration deal.
Meanwhile, the company saw growth across all of its markets – with UK sales growing 35 per cent year-on-year and international sales surging 55 per cent.
Boohoo added that its international revenue now accounted for 44 per cent of the overall group revenue, compared to last year when it accounted for 41 per cent.
“It has been a fantastic first half of the year for the group,” Boohoo chief executive John Lyttle said.
“We have delivered significant market share gains across all of our key markets, and for the first time in our history, revenue has exceeded £1 billion in the last 12 months.
“We have delivered strong growth and operating leverage in our more established brands and will continue to invest in both our more established and newly-acquired brands.
“We enter the second half of the year well-placed and confident that our platform, which combines the latest fashion, great prices and excellent customer service all underpinned by a well-invested infrastructure, will deliver further market share gains.”
Boohoo re-iterated its recently-updated guidance in which it expects group revenue growth for the full-year period to be 33 per cent to 38 per cent.
This means it could record full-year revenues of up to £1.18 billion.
Boohoo also said its adjusted EBITDA margin for the financial year remains at around 10 per cent, reflecting anticipated investments into MissPap, Karen Millen and Coast.
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