Investors in Boohoo Group PLC will be hoping for a better performance than seen over at digital fast-fashion rival ASOS, as it releases its final results on Wednesday.
Analysts aren’t particularly optimistic, however, with Deutsche Bank slashing its price target on the eve of the results (to 140p from 230p) as its analysts fear softer than expected growth despite peak ‘occasion wear’ demand across the sector.
Boohoo’s management aimed to reassure in March, telling investors that profits will be within guidance for the year to end-February 2022, with adjusted profits are expected to be £125mln, up 61% compared to two years prior and 14% on the previous year.
The online fashion retailer said ongoing supply challenges continue to impact the group’s international performance, with longer customer delivery times affecting performance.
"The group has delivered strong growth over the last two years, which has translated into significant market share gains,” commented chief executive John Lyttle at the time.
Elsewhere, bookie umbrella Flutter Entertainment Plc is due to release first-quarter results, and investors will want to see a better showing.
Final results for 2021, released two months ago, were underwhelming with the Paddy Power and Betfair parent company saying the final quarter of 2021 was a challenging one in the UK & Ireland as a lot of sporting results favoured punters.
Reported revenue grew 37% year-on-year, benefiting from the May 2020 acquisition of Stars Group, though earnings (underlying EBITDA) were marked 6% lower, reflecting increased US investment and regulatory impacts in its international business.
For the whole of 2022, consensus expectations see revenue pitched to rise 10% to around £6.6bn and EBITDA to jump more than a third to just over £1bn, with its US business making an EBITDA loss of £251mln.
Investors will see on Monday whether the figures are keeping pace.
Investors in Boohoo Group PLC will be hoping for a better performance than seen over at digital fast-fashion rival ASOS, as it releases its final results on Wednesday.
Analysts aren’t particularly optimistic, however, with Deutsche Bank slashing its price target on the eve of the results (to 140p from 230p) as its analysts fear softer than expected growth despite peak ‘occasion wear’ demand across the sector.
Boohoo’s management aimed to reassure in March, telling investors that profits will be within guidance for the year to end-February 2022, with adjusted profits are expected to be £125mln, up 61% compared to two years prior and 14% on the previous year.
The online fashion retailer said ongoing supply challenges continue to impact the group’s international performance, with longer customer delivery times affecting performance.
"The group has delivered strong growth over the last two years, which has translated into significant market share gains,” commented chief executive John Lyttle at the time.
Elsewhere, bookie umbrella Flutter Entertainment Plc is due to release first-quarter results – and investors will want to see a better showing.
Final results for 2021, released two months ago, were underwhelming with the Paddy Power and Betfair parent company saying the final quarter of 2021 was a challenging one in the UK & Ireland as a lot of sporting results favoured punters.
Reported revenue grew 37% year-on-year, benefiting from the May 2020 acquisition of Stars Group, though earnings (underlying EBITDA) were marked 6% lower, reflecting increased US investment and regulatory impacts in its international business.
For the whole of 2022, consensus expectations see revenue pitched to rise 10% to around £6.6bn and EBITDA to jump more than a third to just over £1bn, with its US business making an EBITDA loss of £251mln.
Investors will see on Monday whether the figures are keeping pace.
Wednesday 4 May
Finals: Dianomi PLC (AIM:DNM), e-Therapeutics PLC, Inspiration Healthcare Group PLC (AIM:IHC), Boohoo Group PLC (AIM:BOO)
Interims: Aston Martin Lagonda Global Holdings PLC (LSE:AML)
Trading announcements: Direct Line Insurance Group PLC (LSE:DLG), Flutter Entertainment PLC (LSE:FLTR), OSB PLC
AGMs: Barclays PLC (LSE:BARC), GlaxoSmithKline PLC (LSE:GSK), Just Eat Takeaway.com NV (LSE:JET, NASDAQ:GRUB), Mpac Group (LSE:MPAC) PLC, Ocado Group PLC (LSE:OCDO), Standard Chartered PLC (LSE:STAN), Ten Entertainment Group PLC (LSE:TEG), Tribal Group, Tritax Big Box REIT PLC (LSE:BBOX), Unilever PLC (LSE:ULVR)
Economic data: US Federal Reserve (US), MBA Mortgage Application (US), ISM Prices Paid (US), ISM Services (US), Crude Oil Inventories (US), BRC Shop Price Index (UK), Consumer Credit (UK), M4 Money Supply (UK), Mortgage Approvals (UK)