Boohoo raises full year revenue forecast

Boohoo Group plc has announced that trading for the first half of its financial year has been ahead of expectations with strong revenue growth driving operating leverage across key brands.

The company’s board now anticipates that results for the current financial year will be ahead of previous guidance, with group sales growth now expected to be between 33 percent and 38 percent against previous guidance of 25 percent to 30 percent.

Boohoo raises sales guidance

The board anticipates EBITDA margins for the financial year to remain at around 10 percent, in line with previous guidance, reflecting anticipated investments across the financial year into the three brands acquired by the group in the first half.

In August, Boohoo acquired Karen Millen and Coast for 18.2 million pounds in a pre-pack administration deal. The two brands will continue to trade through their 32 stores and 177 concessions across the country for a short period as the administration process continues.

Founded in Manchester in 2006 by Mahmud Kamani and Carol Kane, in early 2017, the Boohoo group extended its customer offering through the acquisitions of PrettyLittleThing, and Nasty Gal, acquisition of MissPap brand in March 2019 and recent purchase of British brands Karen Millen and Coast.

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