Online fashion retailer Boohoo.com has upgraded its sales guidance for the third time in three months as it reported a more than doubling of first-half profit on the back of strong revenue growth driven by new customers.
The firm designs, sources and sells own-brand clothing, shoes and accessories online to a core market of 16-24 year-olds.
It said it now expected revenue growth for the full year of 30-35%.
In August the group had upgraded its forecast to 28-33%.
Boohoo floated at 50 pence a share in 2014 but the stock was hammered after a profit warning in January last year.
Its shares have since recovered strongly, closing at 97.8 pence yesterday, valuing the business at £1.1 billion.
For the six months to August 31 Boohoo made core earnings of £16.5m, up 117%, on revenue up 40% to £127.3m.
This reflected a 28% rise in active customers to 4.5 million.
Boohoo said comparative sales numbers for the second half are tougher than for the first. Significant investment in marketing and in IT is also planned for the second half.
It forecast a core earnings margin for the full year of about 11%.
