Boohoo group, UK-based inclusive and innovative brand, posted 45 per cent revenue growth to £816.5 million in its first half (H1) for FY21 ended on August 31, 2020, compared to the revenue of £564.9 million in the same period last year. Company’s profit before tax for the six months period rose 51 per cent to £68.1 million (H1 FY20: £45.2 million).
Boohoo group, UK-based inclusive and innovative brand, posted 45 per cent revenue growth to £816.5 million in its first half (H1) for FY21 ended on August 31, 2020, compared to the revenue of £564.9 million in the same period last year. Company's profit before tax for the six months period rose 51 per cent to £68.1 million (H1 FY20: £45.2 million).#
“There are many challenges still ahead due to uncertainties posed by the Covid-19 pandemic, but despite these challenges there are many positives from our activities in the first half,” Boohoo CEO John Lyttle, said in a press release.
Boohoo group, UK-based inclusive and innovative brand, posted 45 per cent revenue growth to £816.5 million in its first half (H1) for FY21 ended on August 31, 2020, compared to the revenue of £564.9 million in the same period last year. Company's profit before tax for the six months period rose 51 per cent to £68.1 million (H1 FY20: £45.2 million).#
Gross profit during H1 FY21 increased to £449.2 million (£306.6 million). Operating profit was £67.7 million (£44.6 million).
Boohoo group, UK-based inclusive and innovative brand, posted 45 per cent revenue growth to £816.5 million in its first half (H1) for FY21 ended on August 31, 2020, compared to the revenue of £564.9 million in the same period last year. Company's profit before tax for the six months period rose 51 per cent to £68.1 million (H1 FY20: £45.2 million).#
The group’s largest market continues to be UK, accounting for 53 per cent of group revenues. Growth of 37 per cent to £430.2 million (£315.0 million) was strong across all brands, with the three new brands acquired in the prior year augmenting this growth as they build from a low base.
Boohoo group, UK-based inclusive and innovative brand, posted 45 per cent revenue growth to £816.5 million in its first half (H1) for FY21 ended on August 31, 2020, compared to the revenue of £564.9 million in the same period last year. Company's profit before tax for the six months period rose 51 per cent to £68.1 million (H1 FY20: £45.2 million).#
In rest of Europe revenue grew 41 per cent to £123.7 million (£87.5 million) was good across all brands and all major countries, with exceptional growth rates from boohooMAN and NastyGal, particularly in Q1.
Boohoo group, UK-based inclusive and innovative brand, posted 45 per cent revenue growth to £816.5 million in its first half (H1) for FY21 ended on August 31, 2020, compared to the revenue of £564.9 million in the same period last year. Company's profit before tax for the six months period rose 51 per cent to £68.1 million (H1 FY20: £45.2 million).#
Growth in the US during H1 FY21 has been especially strong by 83 per cent to £202.2 million (£110.7 million) as the brands’ momentum builds and market share increases. PrettyLittleThing and boohooMAN continued their exceptional growth, and with all brands supported by the 6 success of social media outreach and the compelling customer proposition.
Fibre2Fashion News Desk (JL)
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