Business
Final results for the year ended 28 February 2022
Final results for the year ended 28 February 2022.
About this update from Boohoo Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 1949K\n boohoo group plc\n 04 May 2022\n \n \n \n \n \n 4 May 2022\n \n \n \n \n \n The information contained within this announcement is deemed by the company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of the domestic law of the United Kingdom by virtue of the European Union (Withdrawal) Act 2018 (as amended) (\"UK MAR\"). Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.\n \n \n \n \n \n boohoo group plc - final results for the year ended 28 February 2022\n \n \n \n \n \n \"Leading the fashion eCommerce market\"\n \n \n \n \n \n Investing for the future\n \n \n · \n \n Significantly increased market share in the UK and US since FY2020. Total group sales +61% since FY2020\n \n \n \n · \n \n Extended target addressable market through acquisitions, with up to 500 million potential customers\n \n \n \n · \n \n Increased warehousing and distribution capacity, capable of supporting over £4\n \n billion of net sales\n \n \n \n · \n \n Plans on track for automation of Sheffield warehouse going live in FY2023, driving material efficiencies, and opening of new distribution centre in the USA in FY2024, transforming delivery proposition\n \n \n \n · \n \n Strong revenue growth in the UK of 27% YOY, with product, price and proposition resonating with customers\n \n \n \n · \n \n £125 million of Adjusted EBITDA, down 28% vs. last year, and broadly flat vs two years ago, despite significant freight and logistics cost inflation and record investments across multi-brand platform\n \n \n \n · \n \n Capital expenditure of £261.5 million, funded using existing cash reserves, including freehold properties and the expansion and automation of the distribution network \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 2022\n \n \n £ million\n \n \n \n \n 2021\n \n \n £ million\n \n \n \n \n Change on 2021\n \n \n \n \n 2020\n \n \n £ million\n \n \n \n \n Change on 2020(1)\n \n \n \n \n \n \n Revenue\n \n \n \n \n \n \n \n \n \n \n 1,982.8\n \n \n \n \n 1,745.3\n \n \n \n \n +14%\n \n \n \n \n 1,234.9\n \n \n \n \n +61%\n \n \n \n \n \n \n Gross profit\n \n \n \n &nb...