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UK online retailer Boohoo.com says met year forecasts
March 31, 2014 / 6:36 AM / 4 years ago

UK online retailer Boohoo.com says met year forecasts

LONDON, March 31 (Reuters) - British online fashion retailer boohoo.com, which floated earlier this month, said on Monday it met forecasts for its 2013-14 year.

It said unaudited net revenues in the year to Feb. 28 rose 62 percent to over 109 million pounds ($181.4 million).

The firm added that underlying earnings (earnings before interest, tax, depreciation and amortisation) were expected to increase by over 200 percent on the previous year’s 3.9 million pounds.

“This continued strong growth is being generated by boohoo.com’s rapidly expanding customer base both in the UK and overseas,” it said.

Shares in boohoo.com, which listed at 50 pence on March 14, closed on Friday at 51 pence, valuing the business at 572 million pounds.

$1 = 0.6011 British Pounds Reporting by James Davey; Editing by Brenda Goh

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