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UK Sparks: Boohoo Ups Guidance After 44% Revenues Boost

Edison

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Internet fashion retailer Boohoo Group has upgraded its full-year revenues guidance after seeing sales increase by 44% to £474m in the last four months of 2019. The company, whose brands include Pretty Little Thing and Nasty Gal, says in a trading update that UK revenues rose by 42% to £256m over the period. Sales in the US increased by 57% to £111m, while European operations produced a 54% improvement to £69.6m. Group revenue growth for the financial year to the end of February is now expected to be between 40%-42%, up from the previous guidance of between 33%-38%. Chief executive John Lyttle says: “All of our brands have performed exceptionally well and delivered strong market share gains.”

Retailer Games Workshop Group has unveiled an increase in interim pre-tax profits from £40.8m to £58.6m on revenues 18% higher at £148m. A net 12 new stores were opened over the period, taking the total to 529. Chief executive Kevin Rountree says the business and the Warhammer games hobby “continue to be in great shape”.

Housebuilder Taylor Wimpey has issued a trading statement saying that full-year results will be in line with expectations after a 5% increase in home completions to 15,719. The company says it ended 2019 with a record total order book of £2.18bn, up from £1.78bn at the end of 2018.

Recruitment company PageGroup says in a trading update that gross profits increased by 5% to £856m in 2019. It expects operating profits in line with Its guidance range of between £140m-£150m.

Speciality chemicals group Elementis has warned that trading in the fourth quarter of 2019 was “somewhat subdued”. As a result, the company now expects full-year adjusted operating profits of between $122-$124m.

Finally, Aviad Kobrine, chief financial officer of online gaming company 888 Holdings, is to step down this year after 15 years in the position. He will remain in the role until a successor is in place.

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