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Boohoo.com fiscal H2 profit falls YOY

boohoo.com plc said its normalized net income for the fiscal second half ended Feb. 28 was £4.1 million, a decline of 10.9% from £4.6 million in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

Total revenue increased 24.5% on an annual basis to £72.7 million from £58.4 million, and total operating expenses rose 30.3% on an annual basis to £66.4 million from £50.9 million.

Reported net income decreased 8.1% from the prior-year period to £5.1 million, or 0 pence per share, from £5.6 million, or 0 pence per share.

For the year, the company's normalized net income totaled £7.7 million, a gain of 11.3% from £6.9 million in the prior year.

Full-year total revenue grew 27.4% year over year to £139.9 million from £109.8 million, and total operating expenses grew 29.8% on an annual basis to £128.0 million from £98.6 million.

The company said reported net income came to £8.4 million, or 1 pence per share, in the full year, compared with £8.4 million, or 1 pence per share, the prior year.