UK Boohoo gains 37% as pandemic drives online business

Secretary of State warns of misleading business direct mail

Our Standards: The Thomson Reuters Trust Principles. ($1 = 0.7192 pounds) Source www.reuters.com

Its revenue rose 41% to 1.75 billion pounds. Unlike store-based rivals who had to shutter shops for several months during coronavirus lockdowns, Boohoo was able to trade throughout.

Revenue growth for 2021-22 was forecast at around 25%. That was ahead of analysts’ average forecast of 171.3 million pounds and 126.6 million pounds made in 2019-20.

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