September 26, 2018 / 6:17 AM / in a month

Boohoo raises guidance after first-half profit jumps 22 pct

LONDON, Sept 26 (Reuters) - Boohoo, the fast-growing British online fashion retailer, reported a 22 percent rise in first-half profit and raised its guidance for the full year, underlining the group’s position as one of the winners in a brutal UK clothing market.

The firm, which sells own-brand clothing, shoes, accessories and beauty products online to a core market of 16 to 30-year-olds, made a pretax profit of 24.7 million pounds ($32.5 million) in the six months to August 31, up from 20.3 million pounds in the same period last year, on revenue up 50 percent to 395.3 million pounds.

For the full-year to Feb. 28 2019 Boohoo forecast revenue growth of 38 percent to 43 percent, up from previous guidance of 35 percent to 40 percent, with adjusted EBITDA margin of between 9 percent and 10 percent. ($1 = 0.7595 pounds) (Reporting by James Davey, Editing by Paul Sandle)

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