Manchester based online fashion retailer Boohoo has seen revenue rose 53% to £183.6m in the half year to May.
The rise is mainly due to its PrettyLittleThing (PLT) acquisition where sales jumped 158% to £79.2m and margins also climbed, while in its original business, the rises were more modest with sales up 12% to £97.2m.
Boohoo said the group had seen market share gains and growth everywhere, with UK sales up 49% and international sales up 60%. Nasty Gal sales surged by 149% to £7.2m.
For the full year, boohoo again forecast revenues to grow by 35% to 40%
“Significant market share gains have been achieved in all of our key focus markets, with our compelling combination of the latest fashion at incredible prices, backed by great customer service resonating strongly with our customers,” said Mahmud Kamani and Carol Kane, joint chief executives.
Boohoo took a 66 per cent stake in PrettyLittleThing, founded by the son of its boss Mahmud Kamani, at the end of 2016. PrettyLittleThing will move to its own warehouse in the second half of the financial year.
