- Online fashion retailer Boohoo forecast slower revenue and hit to margins from rising costs for fiscal 2022 after reporting that annual profit rose by more than third.

Revenue growth for the full year to February 2022 is expected to be around 25% at a group level.

Investment in newly-acquired brands is expected to dilute the group's overall adjusted EBITDA margin by 50-to-100 basis points, leaving overall adjusted margin in the region of 9.5-to-10% for the full year.

For the year ended 28 February 2021, pre-tax profit rose 35% to £124.7 million year-on-year as revenue climbed 41% to £1.75 billion.

Adjusted EBITDA margin was 10.0%, down from 10.2% last year.

Revenue growth was seen across all geographies, with UK up 39% and international up 44%.

International revenue was now 46% of total, up from 45%, the company said.

'Trading in the first few weeks of the financial year has been encouraging, however, the economic outlook remains uncertain and we expect the benefits seen from reduced returns over the last twelve months to begin to unwind this year, whilst still experiencing significantly elevated levels of carriage and freight costs,' the company said.

'Adjusted EBITDA is likely to see more of a weighting towards the second half of the year, reflecting a strong comparative period in the first half,' it added.

At 8:43am: [LON:BOO] Boohoo Group PLC share price was 0p at 282p

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