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Revolution Beauty Group PLC - London-based cosmetics retailer - Expects adjusted earning before interest, tax, depreciation and amortisation of GBP11 million to GBP12 million in the financial year that finishes at the end of this month. This would be dramatically improved from an adjusted Ebitda loss of GBP7.5 million in financial 2023 and is in line with guidance provided in November. However, Revolution Beauty says revenue growth will be a low single-digit percentage, compared to the high single-digit growth previously guided.
Revolution has had a tempestuous past few months, including the threat of legal action by a former shareholder, Chrysalis Investments Ltd, and a highly public dispute with another shareholder, boohoo Group PLC. With a new chief executive officer, Lauren Brindley, at the helm, Revolution Beauty tells a capital market event it hosts on Thursday that it is aiming for GBP1 billion in annual retail brand sales by 2030, which would make it a "top five mass beauty brand globally", even as it cuts costs by GBP10 million over the next three years.
Current stock price: 29.14 pence, down 9.0% in London on Thursday
12-month change: up 19%
By Tom Waite, Alliance News editor
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