boohoo revenues up 48 per cent

boohoo, the online retailer with a major distribution hub in Burnley, has announced annual revenue of £857m, up 48 per cent over the previous year.

The final results for the year ended 28 February 2019 show a pre-tax profit of £59.9m, which is a 38 per cent increase over the prior 12 months.

The year also included the completion of an extension and fit-out at its Burnley distribution centre, with automation going live this month.

The boohoo group includes boohoo, which has 7 million active customers, PrettyLittleThing, with 5 million active customers, and Nasty Gal which increased its audience by 122 per cent to 900,000.

John Lyttle, who was appointed as CEO in September 2018, said: “I am very excited to have joined the boohoo Group at this key stage of its growth, with the group’s disruptive and proven business model having delivered yet another excellent set of financial and operational results.

"In my short time within the business, I am delighted to have been able to meet a number of hugely talented people and have already been able to see many parts of the business. This has confirmed my belief and optimism that the group’s investments into its brands and infrastructure have allowed it to develop a scalable multi-brand platform that is well-positioned to disrupt, gain market share and capitalise on what is a truly global opportunity.”