Source - RNS
RNS Number : 0615N
boohoo group plc
15 January 2019
 

For immediate release                                                                         15 January 2019

 

The information contained within this announcement is deemed by the company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014.  Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.

 

boohoo group plc - trading statement for the four months ended 31 December 2018

                                                                                                                                       

Strong growth across all brands in all regions

 


Four months to 31 December

Ten months to 31 December

£ million

FY19

        FY18

  Increase

CER(1)

       FY19

        FY18

  Increase

CER(1)

Group total revenue

328.2

228.2

        44%

43%

723.5

491.1

47%

Revenue by region









  UK

180.0

135.7

33%

33%

414.0

299.0

38%

38%

  ROE(2)

44.4

28.2

57%

54%

95.7

56.0

71%

63%

  USA

70.4

39.6

78%

80%

138.6

79.2

75%

77%

  ROW(3)

33.4

24.7

35%

32%

75.2

56.9

32%

29%

 

(1): CER designates Constant Exchange Rate translation of foreign currency revenue. (2) ROE is rest of Europe. (3) ROW is rest of world.

 

Highlights

 

Group

·    Strong revenue growth of 44% (43% CER) across all geographic regions

·    Gross margin for the four months 54.2%, up 170bps

·    Strong balance sheet with net cash of £189 million (31 December 2017: £127 million)

 

boohoo

·    Revenue £163.5 million, up 15% (14% CER). Year-to-date revenue £372.5 million, up 15% (13% CER)

·    Gross margin for the four months 52.2%, up 150bps

 

PrettyLittleThing

·    Revenue £144.2 million, up 95% (96% CER). Year-to-date revenue £312.8 million, up 114% (115% CER)

·    Gross margin for the four months 56.4%, up 110bps

 

Nasty Gal

·    Revenue £20.6 million, up 74% (76% CER). Year-to-date revenue £38.3 million, up 89% (93% CER)

·    Gross margin for the four months 54.4% (2018: 55.3%)

 

Guidance

Group revenue growth for the financial year to 28 February 2019 is expected to be 43% to 45%, ahead of our previous guidance of 38% to 43%. We expect group adjusted EBITDA margins to be between 9.25% and 9.75%, narrowing the range from the 9% to 10% as previously guided. All other guidance remains unchanged.

 

Mahmud Kamani and Carol Kane, Joint CEOs, commented:

"We are delighted to be reporting yet another great set of financial and operational results and would like to say a very big thank you to all our team and customers. We remain firmly focused on continuing to provide our customers with great fashion at unbeatable value. The global growth opportunity is significant and we will be addressing it in a controlled way - investing in our proposition, operations and infrastructure to capitalise on the opportunity."

 

 

 

 

Investor and analyst conference call

 

boohoo group plc will today host a conference call for analysts and investors at 9.30am (UK time). The dial in details for the call are as follows:

 

UK Toll Number:

+44 3333000804

UK Toll-Free Number:

08003589473

Participant pin code:

73664912#

 

For international access numbers, please click here.

 

Notice of results

 

boohoo group plc expects to report its results for the 12 months to 28 February 2019 on 24 April 2019.

 

Enquiries




boohoo group plc


Neil Catto, Chief Financial Officer

Tel: +44 (0)161 233 2050

Alistair Davies, Investor Relations

Tel: +44 (0)161 233 2050

Clara Melia, Investor Relations

Tel: +44 (0)20 3289 5520



Zeus Capital - Nominated adviser and joint broker


Nick Cowles/Andrew Jones (Corporate Finance)

Tel: +44 (0)161 831 1512

John Goold/Benjamin Robertson (Corporate Broking)

Tel: +44 (0)20 3829 5000



Jefferies Hoare Govett - Joint broker


Nick Adams/Max Jones

Tel: +44 (0)20 7029 8000



Buchanan - Financial PR adviser

[email protected]

Richard Oldworth/Sophie Wills

Tel: +44 (0)20 7466 5000

 

About boohoo group plc

 

"Leading the fashion eCommerce market"

 

Founded in Manchester in 2006, the group started life as boohoo.com, an inclusive and innovative brand targeting young, value-orientated customers. For over 12 years, boohoo has been pushing boundaries to bring its customers up-to-date and inspirational fashion, 24/7. boohoo has grown rapidly in the UK and internationally, expanding its offering with range extensions into menswear through boohooMAN. 

 

In early 2017 the group extended its customer offering through the acquisitions of the vibrant fashion brand PrettyLittleThing, and free-thinking brand Nasty Gal. United by a shared customer value proposition, our brands design, source, market and sell great quality clothes, shoes and accessories at unbeatable prices. This investment proposition has helped us grow from a single brand, into a major multi-brand online retailer, leading the fashion eCommerce market for 16 to 30-year-olds around the world. Today the boohoo group sells to over 11 million customer accounts across all its brands around the world. 

 

Cautionary Statement

Certain statements included or incorporated by reference within this announcement may constitute "forward-looking statements" in respect of the group's operations, performance, prospects and/or financial condition. Forward-looking statements are sometimes, but not always, identified by their use of a date in the future or such words and words of similar meaning as "anticipates", "aims", "due", "could", "may", "will", "should", "expects", "believes", "intends", "plans", "potential", "targets", "goal" or "estimates". By their nature, forward-looking statements involve a number of risks, uncertainties and assumptions and actual results or events may differ materially from those expressed or implied by those statements. Accordingly, no assurance can be given that any particular expectation will be met and reliance should not be placed on any forward-looking statement. Additionally, forward-looking statements regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. No responsibility or obligation is accepted to update or revise any forward-looking statement resulting from new information, future events or otherwise. Nothing in this announcement should be construed as a profit forecast. This announcement does not constitute or form part of any offer or invitation to sell, or any solicitation of any offer to purchase any shares or other securities in the Company, nor shall it or any part of it or the fact of its distribution form the basis of, or be relied on in connection with, any contract or commitment or investment decisions relating thereto, nor does it constitute a recommendation regarding the shares or other securities of the Company. Past performance cannot be relied upon as a guide to future performance and persons needing advice should consult an independent financial adviser. Statements in this announcement reflect the knowledge and information available at the time of its preparation. Liability arising from anything in this announcement shall be governed by English law. Nothing in this announcement shall exclude any liability under applicable laws that cannot be excluded in accordance with such laws.


Appendix - prior period revenues by region

 

Revenue by period for the ten months to 31 December 2018 (FY19)

 

£'000

4m to 31 December

10m to 31 December


FY19

FY18

yoy %

yoy % CER

FY19

FY18

yoy %

yoy %

CER

Total

328,231

228,215

44%

43%

723,542

491,090

47%

46%

 

Revenue by region





 UK

179,952

135,642

33%

33%

414,009

299,022

38%

38%

 ROE

44,431

28,232

57%

54%

95,682

56,023

71%

63%

 USA

70,427

39,618

78%

80%

138,598

79,214

75%

77%

 ROW

33,421

24,723

35%

32%

75,252

56,830

32%

29%

 

 

£'000

3m to 31 May

3m to 31 August

6m to 31 August


FY19

FY18

yoy %

yoy % CER

FY19

FY18

yoy %

yoy %

CER

FY19

FY18

yoy %

 

yoy %

CER

Total

183,561

120,077

53%

52%

211,748

142,798

48%

47%

395,309

262,875

50%

49%










Revenue by region









 UK

110,738

74,532

49%

49%

123,319

88,849

39%

39%

234,057

163,381

43%

43%

 ROE

22,257

12,220

82%

71%

28,993

15,571

86%

73%

51,250

27,791

84%

72%

 USA

31,389

17,906

75%

78%

36,782

21,690

70%

71%

68,171

39,596

72%

74%

 ROW

19,177

15,419

24%

22%

22,654

16,688

36%

31%

41,831

32,107

30%

27%

 

Revenue by period for the year to 28 February 2018 (FY18)

 

£'000

4m to 31 December

2m to 28 February

12m to 28 February


FY18

FY17

yoy %

yoy % CER

FY18

FY17

yoy %

yoy %

CER

FY18

FY17

yoy %

 

yoy %

CER

Total

228,215

114,294

100%

93%

88,710

53,025

67%

65%

579,800

294,635

97%

92%










Revenue by region









 UK

135,642

65,465

107%

107%

56,592

34,820

63%

63%

355,614

181,981

95%

95%

 ROE

28,232

13,963

102%

76%

10,258

6,059

69%

54%

66,281

34,735

91%

73%

 USA

39,618

19,299

105%

102%

13,475

5,910

128%

133%

92,690

40,435

129%

122%

 ROW

24,723

15,567

59%

46%

8,385

6,236

34%

29%

65,215

37,484

74%

64%

 

£'000

3m to 31 May

3m to 31 August

6m to 31 August


FY18

FY17

yoy %

yoy % CER

FY18

FY17

yoy %

yoy %

CER

FY18

FY17

yoy %

 

yoy %

CER

Total

120,077

58,222

106%

98%

142,798

69,094

107%

104%

262,875

127,316

106%

101%










Revenue by region









 UK

74,532

37,396

99%

99%

88,849

44,300

101%

101%

163,381

81,696

100%

100%

 ROE

12,220

6,938

76%

61%

15,571

7,775

100%

92%

27,791

14,713

89%

77%

 USA

17,906

6,385

180%

155%

21,690

8,841

145%

136%

39,596

15,226

160%

145%

 ROW

15,419

7,503

105%

80%

16,688

8,178

104%

98%

32,107

15,681

105%

89%

 


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