Updates

Boohoo.com - Buys PrettyLittleThing

January 2017

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Boohoo is guiding expectations up once more (the fifth upgrade this year) and says it expects sales for FY17 to be up 38-42%, up from previous guidance of 30-35%. That implies sales of £267m-£277m and as operating leverage continues to run, adjusted EBITDA margin guide steps up to 12% from 11%.Boohoo has also announced the acquisition of 66% of PrettyLittleThing from the chief executive’s children for £3.3m leaving the remaining 34% used to incentivise senior management. PLT revenue grew by over 400% to £17m in FY16 and revenues grew to £19m through H1 17 and is expected to breakeven this year on sales of £55m. Quite how that is figured I’m not sure as Boohoo already does most of the ...

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