Online fashion retailer and new Aim entrant Boohoo.com (BOO) will unveil its maiden full-year results as a listed company next week. Because of information provided in the company prospectus and a subsequent trading update, we already know that sales for the year to February 2014 will reach more than £109m, while cash profits will be around £15m - up 63 per cent and 73 per cent respectively. The e-tailer is also set to announce that sales growth in the current financial year is running at 36 per cent.
At 49p, the shares have nearly halved since the highs reached on the first day of trading in March and are marginally below the 50p flotation price. They now trade on 40 times earnings forecasts for the 2014-15 financial year. The premium rating reflects a 49 per cent three-year annual growth rate, reckons Investec analyst Kate Calvert. She says Boohoo's valuation is full, but not out of line with online-retail peers and at a marked discount to AO World (AO.) and Asos (ASC).
