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Enter a valid email address revenue jumps 53%, full-year outlook unchanged

By BFN News | 09:11 AM | Tuesday 12 June, 2018

Online fashion retailer Boohoo said Tuesday revenue jumped 53% in the first three months through May, from the same period last year, with the company leaving its full-year revenue and earnings guidance unchanged. For the first three months of the year ended 31 May, revenue rose 53% to £183.6m and gross margin increased by 100 basis points to 55.2%. 'Trading in the first quarter of the 2019 financial year has been strong and in line with our expectations,' the company said. The bulk of the revenue was generated from the boohoo division boasting revenues of £97.2m, up 12% from the first quarter last year. For the full year, the company said it expected group revenue growth to be 35% to 40% with adjusted earnings (EBITDA) margin between 9% to 10%. 'We are very pleased with the group's results for the first quarter of the financial year. Our multi-brand strategy is delivering above-market rates of growth globally,' said Mahmud Kamani and Carol Kane, joint CEOs. At 9:11am: (LON:BOO) Plc share price was -9.45p at 210.65p Story provided by

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