Boohoo sales and profits soar in first half

Boohoo Carol Kane and Maumud Kamani

Boohoo has seen group revenues and profits soar in the first half of the year and said the momentum has continued into September, despite the fallout from the Leicester scandal.

The fast-fashion giant reported that for the six months to August 31 sales increased 45% to £817m, while gross profits surged 47% to £449m.

Adjusted EBITDA for the period grew 48% to £90m, while profit before tax jumped 51% to £68m. 

This left the retailer in a net cash position for the period of £345m, a £138m increase. 

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