26th Apr 2016 07:03
LONDON (Alliance News) - Online fashion retailer boohoo.com PLC on Tuesday reported growth in profit in its recently-ended financial year, boosted by increased sales in each of the regions it operates in, and said it has had an encouraging start to the new year.
Boohoo said its pretax profit in the year ended February 29 grew to GBP15.7 million from GBP11.1 million the year before, as revenue increased by 40% to GBP195.4 million from GBP139.9 million.
In the UK, revenue rose by 38%, while rest of Europe demonstrated growth of 25% and revenue in rest of world was up by 56%. Boohoo said rest of Europe suffered a hit from the weak euro, while rest of world achieved strong performances in Australia and the US.
The number of active customers reached over 4.0 million, which is a 34% increase on the prior year.
Boohoo said growth was supported by the expansion of its product range, with the new petite and plus-size ranges both performing well, on top of its core womenswear ranges.
Boohoo said it has had an encouraging start to the new financial year and anticipates sales growth of around 25% for the full year. It will also continue to look at opportunities to "invest in incremental growth" but noted that this may impact margins in the short term.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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