Boohoo.com Sales Rise 132% As It Prepares For Stock Market Listing

Manchester-based fashion phenomenon Boohoo.com increased sales by 132 per cent as it prepares for a stock market IPO early next year.

Sales increased to £67.2 million in the 12 month period to February 2013 from £29 million the year before, we can exclusively reveal. Pretax profit increased almost 13 times from £249,000 to £3.2 million.

The company described the figures as a 'very strong set of financial results'. 

Boohoo.com: 'Very Strong Results'

'Although the high street ladies fashion industry is continuing to face uncertainty, the online sector continues to experience rapid growth and many new entrants but the company is confident of being able to maintain previous growth levels,' the company said in the documents.

That suggests sales in the current financial year are likely to exceed £100 million amid what is understood to have been another strong period of sales growth.

The firm, majority owned by Mahmud Kamani and co-chief executive Carol Kane, is considering plans to sells shares on the stock market in the first quarter next year. It has appointed Zeus Capital to advise on possible options.

It is also preparing to ramp up growth plans in January both at home and overseas in continental European territories including Germany, France and Spain.

The accounts, which became available at Companies House this morning, show the company increased its gross margin to 54.5 per cent from 53 per cent the previous year. It served 1.5 million active customers in the year.

No dividend was paid to directors.

For more on Boohoo, see our Online Retail Stars of 2013 Report: Boohoo.com.