By Matteo Castia
Boohoo Group PLC reported Wednesday a rise in pretax profit for the first half of fiscal 2021 on significantly higher revenue, and raised its revenue guidance for the full year as business started well in the second half.
The clothing retailer made a pretax profit of 68.1 million pounds ($87.6 million) for the six months ended Aug. 31 compared with GBP45.2 million for the year-earlier period.
Revenue rose 45% year-on-year to GBP816.5 million, with improvement across all geographies and brands, the company said.
"Group revenue growth for the year to Feb. 28, 2021 is expected to be 28% to 32%, up from approximately 25% as previously guided," the company said.
No dividend was declared for the period, in line with the prior year.