boohoo group plc – Trading Update

boohoo group plc – Trading Update

boohoo group plc have released a trading statement for the four months ended 31 December 2018 with strong growth across all brands in all regions.

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%

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. 

Mahmud Kamani and Carol Kane, 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.”

No Comments

Post a Comment