Sharecast News
08 Feb, 2024 10:49

Revolution Beauty shares slide on FY revenue warning

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Revolution BeautySharecast graphic / Josh White

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.

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


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Pilling and Co Stockbrokers Ltd. is not responsible for the content or accuracy of third party news articles and we may not share the views of the author or publisher.

We provide third party news for your convenience and information only and make no representation or endorsement whatsoever and hereby exclude all liability for any loss or damage that may be incurred by you as a result of your access or use. Please note that third party content may be subject to terms and conditions imposed by the third party owner of that content.

The value of investments can fall and you may get back less than you invested.