The finance boss of Boohoo has said a hefty jump in sales and profits has helped calm market concerns over the online fashion firm’s growth plans.

Chief financial officer Neil Catto said the company had proven to investors that its heady rise was not running out of steam, sending shares up 13pc on London's junior Aim market.

Pre-tax profit beat expectations, surging 40pc to £43.3m for the year to Feb 28, thanks to an “exceptional performance” by fashion brand PrettyLittleThing.

Revenues also marched higher, lifting 97pc to £579.8m over the period, as sub-brand Nasty Gal beat company predictions.

It comes after Boohoo saw its share price drop 40pc following a first quarter trading update in May last year. Analysts feared the company’s need to plough more investment into infrastructure could hit margins.

However, shares recovered some lost ground on Wednesday, as the impact on margins proved less severe.