Analysts expects stellar reports from Boohoo on May 5

By

Sandra Halliday

Published
Apr 30, 2021

Analysts are predicting another bumper set of figures when the Boohoo Group announces its latest results on May 5. On Friday, a Jefferies report said it's expecting Q4 revenue growth of 23%.

But it also thinks that attention won't only be focused on the numbers with issues around its supply chain also in the spotlight. “We are keen to hear management detail and evidence its confidence that the UK supply chain is now in order”, it said.

Adequately addressing the issues could be a key catalyst for the company’s share price to rise as it has remained suppressed by uncertainty around the robustness of its reaction to supply chain scandals that came to light in 2020.

Meanwhile, a Hargreaves Lansdown analysts also suggested full-year revenue could be up by 39%. That would mean an increase to £1.7 billion in the year to the end of February.

Investment analyst Susannah Streeter from Hargreaves Lansdown said: “It’s been boom time for Boohoo through the pandemic, as shoppers switched from physical to virtual shopping baskets, lured by the e-retailer’s cheap prices”.

And a broad spread of analysts are expecting profits to get close to £150 million for the full year.