Following our Mello experience and the advice from David, Paul and others to be proactive with management I telephoned BOO management today and got put through to finance.
I wanted to ask why their Intangibles had almost qudrupled from August 2013 to August 2014 and was told that they were not allowed to divulge that informatiom!!
I was dumbfounded by that response and pointed out that as a shareholder and part owner I was entitled to such information.
I was then advised to telephone investor relations but I told him I had already done that and discovered it was only connected to an answering machine.
At this point he was took my email address to get back to me so we will see.
Well here you are, I have just recieved a very nice reply from CFO which I have pasted below , pity it all hadn't been a little easier when I telephoned the company.
" I have been passed a message that you have asked why our intangible assets have increased significantly. Our intangible assets consist mainly of expenditure relating to computer software. During our financial year ended 28th February 2014 we made significant investments in this area relating to our IT systems. These investments were made to improve our systems architecture, to improve our main English language website, development of foreign language websites (French, Spanish, German and Italian websites are now live) and the purchase of licenses and development of a new warehouse management system (which went live in September 2014).
Hopefully that answers your question but please do not hesitate to contact me should you require any further information.
Kind regards
Neil
Neil Catto | CFO
Description: cid:44BE049B-9692-4CBA-A185-86B57DA5EE87
T: 0161 233 2050 | M: 07808 765858
F: 0161 236 9375 | E: neil.catto@boohoo.com
49-51 Dale Street, Manchester M1 2HF "
