The interim results confirm another excellent half year for Boohoo, with EBITDA growth of 68% including only a modest contribution from PLT where growth rates remain very compelling and where FY guidance has been raised to +150%. Overall group sales guidance has been raised to +80% for FY18, which compares to our forecast of +75% (and similar for consensus). Note that overly conservative guidance of +60% had largely been ignored. Due to further reinvestment, though, and greater participation from PLT (lower profitability), the higher sales forecast may not yield upgrades today, or at the very most 5%. Pending further clarity on this and insight into important platform and warehousing changes we make no alterations to our target price and maintain a hold recommendation.