Boohoo has issued a trading update this morning, to say that it has grown faster than expected this year.
It stated that for the first half of this financial year, performance has been “ahead of expectations”, with sales up between 33% and 38%.
That compares to previous guidance, which suggested turnover would increase by 25%-30% over the period.
The Manchester-based online retailer now has a greater market value than Asos.
Profits are expected to remain at around 10%, with further details released in its interim results at the end of the month.
[Pictured – Boohoo CEO, John Lyttle]
