Fashion retailer, Boohoo's, full-year profits have fallen as international sales dipped.

The online retailer said profits were hit by a big increase in logistics costs, combined with lower than anticipated growth, as reported by Retail Gazette.

Pre-tax profits plunged 94 per cent to £7.8 million for the year to February 28. Adjusted EBITDA profits were down 28 per cent to £125 million, similar to pre-pandemic levels.

Overall, sales were up 14 per cent, as Boohoo got close to £2 billion turnover - an increase of 61 per cent on pre-pandemic levels.

In the UK, Boohoo's sales were up 27 per cent year on year, but international sales were down by three per cent.

Boohoo said three factors had slowed down its growth - lockdowns in key markets affecting demand, increased return rates and long delivery times impacting demand.

In the year ahead, the retailer is focusing on optimising its operations through increased flexibility in the supply chain.