Boohoo Group PLC (AIM:DEBS), the online retailer trading as Debenhams, has raised its profit expectations for the year to February after enjoying further good trading in the festive period.
The AIM-listed group said it now expects adjusted EBITDA for the year to end-February 2026 to be £50 million, ahead of previous guidance of approximately £45 million given at its interim results.
The company said the upgrade reflects "continued momentum" in the Debenhams brand, a "discernible improvement" in the performance of its youth brands such as Boohoo, PrettyLittleThing (PLT) and Nasty Gal, and accelerated progress on its transformation plan.
All brands in the group were said to continue to trade profitably.
After a turnaround at PLT, with an improvement in profitability described as "material", the company said it was not longer looking to sell the brand.
Management added that they are pursuing licensing opportunities and progressing with the disposal of non-core assets as part of the transformation plan, with proceeds expected to materially reduce net debt over the next 12 months.