Boohoo profits surge as sales rocket across globe
Boohoo has posted a spike in sales and profits as coronavirus lockdowns across the globe spurred growth in all of its international markets.
The online fashion retailer registered a 35% uplift in pre-tax profit to £125m in the year to February 28. Adjusted EBITDA jumped 37% to £174m during the same period.
Group revenues soared 41% to £1.75bn, buoyed by surging sales in its international markets, which now account for almost half of Boohoo’s total revenues.
The etailer said sales in the UK, which remains its largest market, rose 39% to £945m during the year. That compared with a 65% surge in sales in the US, Boohoo’s fastest growing market, where it raked in £435m.
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