Boohoo breaks £1bn as H1 revenue soars to £565m

Manchester-based online fashion giant Boohoo Group plc said on Wednesday its first half revenue rose 43% to £564.9 million, taking revenue in the last 12 months above £1 billion for the first time.

First-half profit before tax soared 83% to £45.2 million.

Boohoo Group said its international business is now 44% of group revenue, and that the acquisition of the MissPap, Karen Millen and Coast brands have been “complementary additions” to the group’s multi-brand platform.

It said boohoo revenue rose 34% to £281 million, PrettyLittleThing revenue climbed 41% to £237.6 million, and Nasty Gal revenue soared 148% to £43.9 million.

Boohoo Group CEO John Lyttle said: “It has been a fantastic first half of the year for the group.

“We have delivered significant market share gains across all of our key markets, and for the first time in our history, revenue has exceeded £1 billion in the last 12 months.

“We have delivered strong growth and operating leverage in our more established brands and will continue to invest in both our more established and newly-acquired brands.

“We enter the second half of the year well-placed and confident that our platform, which combines the latest fashion, great prices and excellent customer service, all underpinned by a well-invested infrastructure, will deliver further market share gains.”