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Pin to quick picksRevolution Beauty Share News (REVB)

Share Price Information for Revolution Beauty (REVB)

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Share Price: 25.50
Bid: 25.00
Ask: 25.45
Change: 0.30 (1.19%)
Spread: 0.45 (1.80%)
Open: 25.10
High: 25.50
Low: 25.10
Prev. Close: 25.20
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CORRECT: Revolution Beauty set to meet annual earnings guidance

Wed, 27th Mar 2024 17:03

(Correcting that Revolution Beauty previously predicted low-single digit growth and that financial 2023 revenue was GBP187.8 million)

(Alliance News) - Revolution Beauty Group PLC on Wednesday said it expects to meet earnings consensus for its financial year, despite forecasting low-single digit revenue growth.

Shares in Revolution Beauty rose 9.0% to 30.00 pence each in London on late Wednesday morning.

For the financial year ended February 29, the London-based cosmetics retailer said it expects to report adjusted earnings before interest, tax, depreciation and amortisation of at least GBP12.5 million.

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 of GBP11 million and GBP12 million.

In addition, Revolution Beauty forecast revenue growth of approximately 2% from GBP187.8 million in financial 2023.

The firm had previously predicted low-single digit growth.

Revolution Beauty said it will report its financial 2024 results in June 2024.

Looking ahead, the company said it remains well-placed to deliver on its future growth ambitions.

Chief Executive Officer Lauren Brindley said: "Our major product launches for 2024 are ahead of plan as we focus on fewer and more impactful new products. We also opened our TikTok shop this week and are preparing to go live with a new direct Amazon US partnership in May 2024. I remain highly confident about our growth prospects and our ability to become a top five mass beauty player."

Revolution Beauty 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.

Last month, Revolution Beauty told a capital market event 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 plans to cut costs by GBP10 million over the next three years.

By Sabrina Penty, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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22 Apr 2024 10:10

Disgruntled Chrysalis Investments files claim versus Revolution Beauty

(Alliance News) - The dispute between Revolution Beauty Group PLC and former shareholder Chrysalis Investments Ltd ratcheted up on Monday, as Chrysalis said it has issued legal claims for a total of GBP45.2 million against Revolution Beauty, while Revolution rejected the allegations.

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9 Apr 2024 10:56

IN BRIEF: Synectics shares rise as appoints Bob Holt as chair

Synectics PLC - Sheffield, England-based security and surveillance systems company - Appoints Bob Holt as chair, effective after annual general meeting on April 24. He will replace outgoing Chair Steve Coggins, who has been interim chair since October. Holt has experience as a director at several companies, including Revolution Beauty Group PLC and Mears Group PLC, the latter of which he guided through its initial public offering on London's AIM market in 1996, back then as chair of Mears.

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27 Mar 2024 11:58

Revolution Beauty set to meet annual earnings guidance

(Alliance News) - Revolution Beauty Group PLC on Wednesday said it expects to meet earnings consensus for its financial year, despite forecasting low-single digit revenue growth.

Read more
27 Mar 2024 09:04

Revolution Beauty lifts FY outlook

(Sharecast News) - Revolution Beauty lifted its full-year outlook on Wednesday after continued strong trading.

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8 Feb 2024 12:02

IN BRIEF: Revolution Beauty aims for GBP1 billion in annual sales

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.

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8 Feb 2024 07:16

Revolution Beauty shares slide on FY revenue warning

(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.

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5 Feb 2024 09:13

Revolution Beauty's former CEO pays GBP2.9 million to close dispute

(Alliance News) - Revolution Beauty Group PLC on Monday said former Chief Executive Adam Minto had agreed to pay the company GBP2.9 million to settle a dispute.

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5 Feb 2024 08:11

Revolution Beauty reaches settlement with former CEO

(Sharecast News) - Make-up company Revolution Beauty has reached a settlement with co-founder and former chief executive Adam Minto following the delayed publication of its FY22 results and its suspension from trading during his time in the top job.

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2 Feb 2024 10:22

Revolution Beauty "strongly contests" possible claim from Chrysalis

(Alliance News) - Revolution Beauty Group PLC on Friday confirmed it has received a pre-action claim from one-time shareholder Chrysalis Investments Ltd, which accused the cosmetics retailer of "negligent misstatement and/or misrepresentation".

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13 Dec 2023 12:01

Revolution Beauty reaches settlement with ex-chair as CFO stands down

(Alliance News) - Revolution Beauty Group PLC on Wednesday announced the resignation of Chief Financial Officer Elizabeth Lake and the resolution of its legal dispute with Tom Allsworth.

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13 Dec 2023 07:43

Revolution Beauty CFO departs as Boohoo saga takes new twist

(Sharecast News) - The long-running saga at cosmetics company Revolution Beauty Group took a new turn on Wednesday when major shareholder Boohoo got its wish with the departure of finance boss Elizabeth Lake.

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27 Nov 2023 10:38

Revolution Beauty says discussions ongoing in disputes with co-founders

(Alliance News) - Revolution Beauty Group PLC on Monday responded to "press speculation" regarding potential agreements with its former executive chair and chief executive officer.

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27 Nov 2023 07:20

Revolution Beauty in negotiations with ex CEO, chairman

(Sharecast News) - Revolution Beauty Group responded to fresh press speculation surrounding potential agreements with its former chief executive officer, Adam Minto, and former executive chairman, Tom Allsworth, on Monday.

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