Fashion firm Boohoo's profits keep on rising

Online fashion retailer Boohoo, which employs more than 1,000 people at its Burnley distribution centre, goes from strength-to-strength.

By The Newsroom
Thursday, 4th October 2018, 3:20 pm
Updated Friday, 5th October 2018, 5:09 pm
Boohoo in Burnley
Boohoo in Burnley

Profits for the first six months of the year jumped 22% to £24.7m on the back of a surge in sales.

Mahmud Kamani and Carol Kane, joint CEOs, said: “Our group results for the first half year show yet another strong performance, delivering record sales and profits.

“All of our brands performed extremely well across all territories as we continue to gain market share.

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“We achieved market-leading growth in all markets, with Rest of Europe and the USA being particularly pleasing.

“Growth in the UK, our largest market, remains very strong.”

The Boohoo group includes Boohoo, PrettyLittleThing and NastyGal brands.

International revenue streams now make up two fifths of its total revenues, thanks in part to its US brand Nasty Gal, which was acquired in spring 2017.

A new chief executive will join the organisation in March to help support global growth.