Boohoo full-year sales and profits soar in ‘great’ year
Boohoo has reported a strong rise in its preliminary sales and profits as boss John Lyttle said the coronavirus pandemic had highlighted the “key strengths” of the business.
The fashion etailer posted a 54% jump in pre-tax profit to £92.2m in the year to February 29, driven by a 44% revenue to £1.2bn.
The online retailer said since the coronavirus pandemic took hold in the UK, its trading performance had been “mixed” with “a marked decrease” in sales in mid-March.
Boohoo added that “performance has improved in more recent weeks and we are now seeing improved year-on-year growth of group sales during April”.
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