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Boohoo.com plc raises full year revenue forecast after strong trading

Published: 07:23 28 Feb 2017 GMT

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Boohoo.com lifts annual revenue expectations

Online fashion retailer Boohoo.com plc (LON:BOO) has raised its full year revenue estimate again following strong trading.

In a pre-close trading statement, the company said it has delivered a robust performance since its last update on 10 January when it also ifted its sales guidance on the back of healthy demand in the US and solid trading from Black Friday promotions.

Boohoo.com now expects revenue growth for the year to 28 February 2017 of 50%, compared to the guidance range of 46% to 48% provided at last month’s statement.

The group, which designs and sells own-braded clothing, expects an adjusted underlying earnings (EBITDA) margin at the top end of the previous guided range of 11% to 12%, supported by improved operating leverage in the business.

The new forecasts include revenues from the acquisition of PrettyLittleThing, which Boohoo completed on 3 January.

In the four months to 31 December, the company reported overall revenue growth of 55%. Sales in the UK rose 31% while the rest of Europe increased 63% and sales in the rest of the world grew 66%. The US steamed ahead with sales surging 230%.

Shares rose 0.38% to 147.31p in early trading.

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