Confidence in the online fashion retailer is still increasing as share prices continue climbing and predicted to continue.
In the wake of announcing its take-over of PrettyLittleThing from the son of Boohoo’s joint CEO Mahmood Kamani, Boohoo.com revised its forecast for the 2017 financial year with revenue growth expected to be between 38% and 42% over 2016.
Profitability is also predicted to increase slightly from 10% to 11% before Taxes and other costs.
The company owned by Umar Kamani handed over 66% stake for a reported £3.3M
PrettyLittleThing has shown amazing growth, upping its revenue from £3.1M to £17.0M in 12 months and is expected to complement Boohoo’s brand perfectly.
Analysts at Peel Hunt, Shore Capital and Investec have all indicated that Boohoo.com as a “Buy” rating, reiterating the confidence they have shown for some time.
Share prices rose to a 5-year high topping yesterday at £133.25 and were still rising today.