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boohoo.com reports record revenues after its best ever Black Friday

Margins continue to drift lower but the top line is still heading north at a rate of knots
Boohoo model wearing a dress
The primary boohoo brand saw revenue growth of 21% on a constant exchange rates basis, against strong prior year comparative (+55%)

Fashion retailer Boohoo.com PLC (LON:BOO), one of the giants of AIM, doubled revenues year-on-year in the final four months of 2017.

The retailer hailed a “highly successful trading period”, with record revenues for all its brands, though margins eased a bit.

READ: Boohoo.com drops amid margin pressures as it raises full-year revenue outlook again as first-half profits surge

The group said it now expects year-on-year revenue growth for the current financial year to be around 90%, which is up from its previous guidance of around 80%, which itself was up from a guidance of 60% growth at the time of its interim results in September.

It now expects adjusted underlying earnings (EBITDA) margins to be between 9.25% and 9.75%, having previously issued a wider guidance range of 9 – 10%.

Group total revenue in the final four months of 2017 doubled to £228.2mln from £114.3mln, and was up 93% on a constant exchange rates (CER) basis.

The gross margin eased to 52.5% from 53.1% a year earlier, while the retail gross margin dipped to 54.2% from 54.4%.

The group ended the year with £127mln from £69mln a year earlier.

Black Friday most successful one ever

"The Black Friday period was our most successful ever and we traded well throughout the period under review,” said Mahmud Kaman and Carol Kane, the joint chief executive officers of boohoo.

“boohoo has continued to perform well, delivering strong revenue growth on increasingly challenging comparatives last year. PrettyLittleThing has continued to deliver exceptional results and Nasty Gal is making excellent progress in its first year,” the pair said.

Shares in Boohoo.com were up 1.4% at 210.1p, having risen to 216p at one stage.

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