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Online retailer Boohoo said its outlook remained cautious even as it reported a sharp uptick in profit amid 'strong' performance across its brands.
For the year ended 29 February 2020, pre-tax profit rose 54% to £92.2m as revenue increased 44% to £1.2bn.
Gross margin fell 70 basis points 54.0% amid a ramp up in investments.
Boohoo, PrettyLittleThing, Nasty Gal generated revenue growth of 38%, 38% and 106%, respectively.
'Since the middle of March, trading has been mixed, as a result of the impact of the COVID-19 pandemic, initially with a marked decrease in year-on-year growth. Performance has improved in more recent weeks and we are now seeing improved year-on-year growth of group sales during April,' the company said.