Mahmud Kamani and Carol Kane, Boohoo Joint CEOs, commented:
“We are delighted to be reporting yet another great set of financial and operational results and would like to say a very big thank you to all our team and customers. We remain firmly focused on continuing to provide our customers with great fashion at unbeatable value. The global growth opportunity is significant and we will be addressing it in a controlled way – investing in our proposition, operations and infrastructure to capitalise on the opportunity.”
Boohoo group plc (LON:BOO), today announced trading statement for the four months ended 31 December 2018.
|
|
Four months to 31 December |
Ten months to 31 December |
|||||||
|
£ million |
FY19 |
FY18 |
Increase |
CER(1) |
FY19 |
FY18 |
Increase |
CER(1) |
|
|
Group total revenue |
328.2 |
228.2 |
44% |
43% |
723.5 |
491.1 |
47% |
46% |
|
|
Revenue by region |
|
|
|
|
|
|
|
|
|
|
UK |
180.0 |
135.7 |
33% |
33% |
414.0 |
299.0 |
38% |
38% |
|
|
ROE(2) |
44.4 |
28.2 |
57% |
54% |
95.7 |
56.0 |
71% |
63% |
|
|
USA |
70.4 |
39.6 |
78% |
80% |
138.6 |
79.2 |
75% |
77% |
|
|
ROW(3) |
33.4 |
24.7 |
35% |
32% |
75.2 |
56.9 |
32% |
29% |
|
(1): CER designates Constant Exchange Rate translation of foreign currency revenue. (2) ROE is rest of Europe. (3) ROW is rest of world.
Highlights
Group
· Strong revenue growth of 44% (43% CER) across all geographic regions
· Gross margin for the four months 54.2%, up 170bps
· Strong balance sheet with net cash of £189 million (31 December 2017: £127 million)
boohoo
· Revenue £163.5 million, up 15% (14% CER). Year-to-date revenue £372.5 million, up 15% (13% CER)
· Gross margin for the four months 52.2%, up 150bps
PrettyLittleThing
· Revenue £144.2 million, up 95% (96% CER). Year-to-date revenue £312.8 million, up 114% (115% CER)
· Gross margin for the four months 56.4%, up 110bps
Nasty Gal
· Revenue £20.6 million, up 74% (76% CER). Year-to-date revenue £38.3 million, up 89% (93% CER)
· Gross margin for the four months 54.4% (2018: 55.3%)
Guidance
Group revenue growth for the financial year to 28 February 2019 is expected to be 43% to 45%, ahead of our previous guidance of 38% to 43%. We expect group adjusted EBITDA margins to be between 9.25% and 9.75%, narrowing the range from the 9% to 10% as previously guided. All other guidance remains unchanged.
