Source: Company reports/FGRT
1H18 Results
Boohoo.com once again knocked it out of the park in terms of revenue growth. The company grew 1H18 group revenues by 106.5%, ahead of the analyst consensus of a 99% increase.
Profits, on the hand, came in below expectations: EBIT was £20 million versus consensus of £24 million; PBT was £20.3 million versus expectations of £22.6 million; and diluted EPS was 1.22 pence compared to the consensus of 1.43 pence.
By brand:
- Boohoo brand sales were up 43% to £182 million (up 40% at constant exchange rates).
- PrettyLittleThing revenues were up 289% on the prior-year comparative, to £73 million.
- Nasty Gal generated revenues of £8 million, “increasing month-on-month” since its acquisition in March 2017.
By region, at constant currency:
- UK revenues were up 100%
- Rest of Europe revenues were up 77%.
- US revenues were up 145%.
- Rest of World revenues were up 89%.
Outlook
The company raised its guidance for FY18 group revenue growth to 80%, from prior guidance of a 60% increase. Boohoo expects to report an adjusted EBITDA margin of between 9% and 10% this year. Over the medium term, the company expects to report 25% annual revenue growth and an adjusted EBITDA margin of around 10%.
