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Boohoo revenue up 43% to £564.9 mn in H1 2019

Sep '19
Pic: Boohoo
Pic: Boohoo
Group revenue of fashion e-commerce company Boohoo increased by 43 per cent to £564.9 million for first half of the year as compared to £395.3 million in H1 of last year. Adjusted EBITDA was £60.7 million (2019: £39.6 million), an increase of 53 per cent for same period last year. The company recorded strong revenue growth across all brands and geographies.

Revenue in UK increased 35 per cent, while for international it jumped to 55 per cent. International revenue now constitutes 44 per cent of group revenue (2019: 41 per cent), said the company in a press release.

The company acquired the brands MissPap, Karen Millen and Coast brands, which were complementary additions to the group's scalable multi-brand platform.

PrettyLittleThing recorded revenue of £237.6 million in H1, up 41 per cent as compared to previous year. Nasty Gal revenue was up 148 per cent to £43.9 million. Revenue for Boohooman in the first half year increased to £281.0 million, up 34 per cent on the first half of previous year.

"It has been a fantastic first half of the year for the group. 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," said John Lyttle, CEO of Boohoo group.

The group revenue growth for the year to 29 February 2020 is expected to be 33-38 per cent, with adjusted EBITDA margin for the financial year to remain at around 10 per cent, reflecting anticipated investments across the financial year into the three brands acquired by the group in the first half year.

Founded in Manchester in 2006, Boohoo is an inclusive and innovative brand targeting young, value-orientated customers. For 13 years, Boohoo has been pushing boundaries to bring its customers up-to-date and inspirational fashion, 24/7. Boohoo has grown rapidly in the UK and internationally, expanding its offering with range extensions into menswear, through Boohooman.

Fibre2Fashion News Desk (PC)

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