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LONDON (Alliance News) - Personal care and beauty products maker Creightons PLC said Thursday that its recent efforts to upgrade and rationalise its business have caused a temporary hit to its gross margins and operating profit.
However, it said its financial position has improved due to the receipt of funds from the sale of its interest in the Twisted Sista haircare brand in May.
Creightons has been investing in extra marketing activity in its first quarter, as it focused on new higher value products which it expects to improve sales later in the year and next year.
The company noted that whilst it can't be certain that its investment "will inevitably carry forward into improved earnings in the full year", it considers it necessary for sustained growth in sales and profits.
Creightons will announce its interim results on or before November 30.
Shares in Creightons were trading up 5% at 5.25 pence Thursday.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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