Revolution Beauty shares slide on FY revenue warning
By Iain Gilbert
Date: Thursday 08 Feb 2024
(Sharecast News) - 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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