InnovaDerma PLC - Trading Statement
The Company generated revenues of
Roots revenues were lower than expected due to competitive shelf positioning, however, new products, particularly Platinum Colour Protect, performed well. Charles + Lee continued to build momentum with Australian retailers and almost doubled revenues compared to last year.
Life Sciences' revenue increased by 71% on the previous year as a result of DTC sales driven by online 'influencers', predominantly in the US.
As in previous years, the Company expects revenue and profit growth to be strongly weighted to H2 FY2020, reflecting the peak tanning season. Skinny Tan remains well positioned to perform well in the
The momentum of the first half coupled with our forthcoming new category launch give us much confidence for the full year. The balance sheet remains healthy and with an increased retail footprint coupled with continued focus on our DTC channels in core regions, the Company expects to generate strong revenue and profit growth in the second half of the year.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
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Quick facts: InnovaDerma PLC
Market Cap: £5.25 m
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