Horse8 Feb 2017 09:58
you can only go by this positive statement in jan and imo - could do well tomorrow if as expected... and they give more details!
rading Performance
The Board is pleased to announce that the Group's first half year financial performance has been encouraging and revenues are expected to show growth of just over 80% year-on-year on a constant currency basis to approximately £3.0 million (unaudited). The increase in revenue has been driven by the Company's expansion strategy in the UK with the strong performance of Skinny Tan, a premium self-tanner brand that combines a natural tanning active, to tan and reduce the visible appearance of cellulite, which was launched in February 2016 through Superdrug. As set out in the Full Year results, the Group's strategies are to extend the Skinny Tan brand to build customer loyalty, and use a digital direct to consumer strategy to drive sales. Both have contributed positively to revenue growth.
The Group has undertaken significant corporate activity in the first half including listing on the Main Market of the London Stock Exchange, opening up the US market, and the transition of its manufacturing to the UK. One off costs associated with these activities will be absorbed into the first half of the financial year. As previously indicated by the Board in its operational update and entry into the American market on 24 October and 31 October 2016 respectively, it believes that these strategic initiatives will drive top line revenue and earnings from the second half of the Company's financial year.
The Board is pleased with the progress of the Company and looks forward to discussing this further at the time of its interim results expected to be in February.
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