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Boohoo’s profits surge amid online shopping boom

The fast-fashion retailer saw its adjusted cash profits jump by 37 per cent in the year to 28 February
Boohoo’s profits surge amid online shopping boom
  • In its largest market, the UK, sales climbed by 39 per cent to £945m
  • The group is guiding that total sales will rise by a quarter this year, buoyed by acquisitions

Fast-fashion retailer Boohoo (BOO) has been a big beneficiary of the pandemic-driven closure of the high street and consumers flocking online – its adjusted cash profits (Ebitda) jumped 37 per cent in the year to 28 February to £174m. There was a slight 0.2 percentage point contraction in the margin to 10 per cent, which reflects higher overseas distribution costs and investment in acquisitions.

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