Business
Final results for the year ended 28 February 2023
Final results for the year ended 28 February 2023.
About this update from Boohoo Group Plc
[{"type":"text","content":"\n\n 16 May 2023\n \nThe 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 \nboohoo group plc - results for the 12 months ended 28 February 2023\n(\"boohoo\" or \"the Group\")\n \n \nGetting back to growth\n· Significant market share gains over the last 3 years, with sales +43%, and the UK +61%\n· Successful delivery of automation in Sheffield, driving best-in-class operational performance and significant savings\n· Substantial progress made ahead of phased launch of US distribution centre later this year, driving a step change in customer proposition\n· Leaner, lighter, faster inventory position, with stock down 36% year on year\n· Strong cash generation with net £30.2 million Free Cash Flow after £91.2 million of capital expenditure supporting growth ambitions, and £330.9 million of liquidity headroom\n· Reinvesting margin improvements from supply chain deflation into speed and price to reinforce test and repeat proposition\n· Medium term adjusted EBITDA margin expectation of 6% to 8%, and getting back to double digit revenue growth through scale, unlocking cost deflation, and overhead efficiencies\n \n\n\n\n\n\n\n\n\n\n\n \n\n\n2023\n£ million\n\n\n2022\n£ million\n\n\nChange on 2022\n\n\n2020\n£ million\n\n\nChange on 2020(1)\n\n\n\n\nRevenue\n\n\n\n\n\n\n\n\n1,768.7\n\n\n1,982.8\n\n\...