RE: Boohoo - A World Class Growth Business13 Oct 2020 20:45
Highlights from Interim Results
· Revenue £816.5 million, up 45% (44% CER(7))
· Strong revenue growth across all geographies and brands (UK: +37%; international: +55%, including US +83%). International now 47% of group revenue (2019: 44%)
· New customer acquisition in Q1 driven by pandemic's impact on consumer behaviour
· Healthy customer KPIs with a continued improvement in share of wallet
· Acquisition of the remaining 34% minority shareholding in PrettyLittleThing
· Acquisition and integration of the Oasis and Warehouse brands, complementary additions to the group's scalable, multi-brand platform
· Robust balance sheet with net cash of £344.9 million (2019: £207.3 million), healthy operating cash flow of £147.2 million (2019: £55.9 million) and net cash flow of £99.5 million (2019: £15.5 million)
· Non-participation in UK Government's financial support schemes to support jobs and businesses
· Successful £198 million share placing to support future acquisitions
· Independent Review ("Independent Review") of working conditions of supply chain in Leicester published. All recommendations accepted, improvements in supply chain governance to be robustly implemented in full
There's no need to ramp Boohoo, the facts speak for themselves.