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InnovaDerma chairman says company at a "strategic inflection point"

Deals with retailers such as Boots and Tesco should aid the transformation and boost the company's distribution network
woman in bikini
Sunny outlook: InnovaDemerma's top-selling product is Skinny Tan

InnovaDerma PLC (LON:IDP) is now at a “strategic inflection point”, its chairman Haris Chaudhry will tell investors who attend the Skinny Tan company’s annual meeting in London’s Square Mile later Wednesday.

The end of exclusivity periods for its flagship products will usher in deals with major retailers, he will explain.

READ: Skinny Tan maker InnovaDerma hails breakthrough Boots deal as it says it is poised for significant growth

For example, its successful tanning product is expected to make its way onto the shelves of 1,250 Boots stores from March next year; both boots and Tesco are taking its Roots haircare product.

In fact, distribution channels will increase threefold this financial year to 2,400, Chaudhry will say.

Providing financial guidance, Chaudhry will reveal revenues for the first half will be in line with the comparable period last year and will come in at around £14mln for the 12-month period – which would represent a 30% year-on-year rise in sales.

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InnovaDerma PLC Timeline

CN Research
February 25 2019

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