Revolution Beauty shares slide on FY revenue warning
Revolution Beauty Group
26.85p
16:35 30/04/24
Mass beauty business Revolution Beauty Group shares headed south early on Thursday after the group warned investors that full-year revenues would now be lower than previously forecast.
FTSE AIM 100
3,662.14
17:14 30/04/24
FTSE AIM All-Share
760.74
17:14 30/04/24
Personal Goods
16,047.41
17:05 30/04/24
Revolution Beauty said annual sales were now expected to grow low single digits, having been forecast to jump by high single digits back in November. However, the AIM-listed group said that thanks to increasing lower-margin stock-keeping units numbers, it had been able to maintain solid margins.
As a result, underlying earnings were expected to be between £11.0m and £12.0m, a marked improvement on the prior year's underlying loss of £7.5m.
Revolution also noted that it has signed a 12-month extension to its £32.0m revolving credit facility, which will now run until October 2025 on unchanged terms.
As of 1040 GMT, Revolution Beauty shares had sunk 11.25% to 28.40p.
Reporting by Iain Gilbert at Sharecast.com