Boohoo revenue soars 62pc

Guy Bentley
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Online fashion retailer finished the year to 28 February with net revenues enjoying a year-on-year rise of 62 per cent to £109m, according to the company's year end trading update. saw earnings before interest, taxes, depreciation and amortization for the period in line with expectations, increasing 200 per cent on the previous year.

The Manchester-based company had its first day of trading on 14 March and saw shares open at 85p - well above the offer price of 50p. Boohoo raised £300m through its initial public offering. Boohoo followed the debuts on London's Alternative Market Investment of Poundland and Pets at Home.

Co-founded by Carol Kane, the company was valued at £560m.

Last week, the world's largest money manager Blackrock yesterday joined hedge fund guru Crispin Odey in revealing itself as a major shareholder in online fashion retailer Boohoo.

Founded by chief executive Larry Fink, BlackRock took 56m shares in the company, roughly five per cent of the business.

Blackrock joined Odey Asset Management, which had disclosed a seven per cent stake in the business.

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