boohoo group Plc (GB:BOO) has released an update.
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boohoo group plc reports a decline in revenue and profits for the fiscal year 2024 due to challenging market conditions and a strategic focus on profitability over growth. Despite a 17% decrease in revenue and a significant loss before tax, the company’s adjusted EBITDA margin improved, and major investments in US distribution and automation were completed. Looking ahead, boohoo group expects to leverage operational efficiencies and cost savings to achieve positive cash flow and sustainable growth.
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