Online fashion retailer Boohoo.com will almost double pre-tax profits to £29.6m a sales climb to £290.4m – up £100m up on the year before.

According to reports, the Manchester-based firm recorded  a 55 per cent leap in sales over Christmas, and was also boosted by Black Friday promotions.

Its affordable range of party dresses start from £8, and swift delivery times have been luring smartphone-savvy young shoppers away from the high street.

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Boohoo.com recently bought US fashion firm Nasty Gal out of bankruptcy for £20m, and last year purchased online retailer Pretty Little Thing.

Roughly half of its products are sold in the UK, but the company is still expected it to feel the squeeze from the weaker pound on import costs.