First-half revenue fell 3.0% to £410mn, with strong growth at Debenhams being offset by declines across its Karen Millen and MAN brands.
Adjusted cash profit (EBITDA) rose 14.6% to £24mn, driven by cost control and an improved sales mix.
Free cash flow improved from an outflow of £22mn to an inflow of £6mn. Net debt fell from £111mn to £99mn.
Full-year guidance was reiterated, with underlying cash profits expected to grow at double-digit rates to at least £59mn. Net debt is expected to be negligible by the end of its financial year.
The shares rose 4.0% in early trading.
Our view
HL view to follow.
Boohoo key facts
All ratios are sourced from LSEG Datastream, based on previous day’s closing values. Please remember yields are variable and not a reliable indicator of future income. Keep in mind key figures shouldn’t be looked at on their own – it’s important to understand the big picture.
This article is original Hargreaves Lansdown content, published by Hargreaves Lansdown. It was correct as at the date of publication, and our views may have changed since then. Unless otherwise stated estimates, including prospective yields, are a consensus of analyst forecasts provided by LSEG. These estimates are not a reliable indicator of future performance. Yields are variable and not guaranteed. Investments rise and fall in value so investors could make a loss.
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