The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksIDP.L Regulatory News (IDP)

  • There is currently no data for IDP

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Trading Statement

10 Jan 2019 07:00

RNS Number : 6769M
InnovaDerma PLC
10 January 2019
 

LEI: 213800WRAP6W8VDL6B38

InnovaDerma PLC

("InnovaDerma" or the "Company")

Trading update

InnovaDerma (LSE: IDP), a UK developer of life sciences, beauty and personal care products, announces a trading update for the six months ended 31 December 2018.

 

The Company generated revenue of £3.9m (H1 FY2018: £4.2m) in the period under review. The modest decline in the first six months was largely due to challenges in the DTC channel which have now been addressed. Increasing competition on social media platforms and changes to Facebook's algorithm, prioritising personal engagement over businesses and brands, softened revenue generated through our DTC platform. We have now revised our engagement strategy on Facebook and diversified onto other platforms such as Instagram and Google. These actions have begun to gain traction, receiving positive customer responses and generating good revenue growth in recent weeks.

 

Despite the retail headwinds in the UK, sales through this channel grew by 36%, driven predominantly by the Roots brand which was launched 15 months ago. Pleasingly, during Christmas week, Roots delivered its best sales performance to date in Boots' stores whilst not on promotion.

 

The second half of the year has begun strongly through the DTC channel and detailed planning for the major launch of Skinny Tan in Boots is being finalised with the retailer. Opening orders will be received in the coming weeks, to be on its shelves (1,305 stores) from mid-February/early March 2019 to capitalise on the seasonal peak in self-tanning sales.

 

The Charles + Lee brand performed very well in Australia and delivered revenue growth of 50% compared to the same period last year. The brand has received CE Mark regulatory approval, enabling the brand to be marketed and sold within the EU. The Company is in early discussions with a number of UK retailers to range the brand.

 

The new inventory for both of our Life Science products, Prolong and Hair Helmet is now available and we will begin to promote both products in key geographical markets. The promotion costs have been fully budgeted for and will be flexed in response to revenues.

 

As indicated at our Annual General Meeting, we expect the second half of the year to be disproportionally higher than in previous years given the phasing of our substantially wider distribution network. We remain confident that that this will be a year of substantial growth across the business,

 

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

 

Further enquiries

InnovaDerma

Haris Chaudhry/Kieran Callan/Joe Bayer

 

+61 (0)3 9863 8030

finnCap Ltd

Geoff Nash/Kate Bannatyne

Alice Lane - Corporate Broking

 

+44 (0)207 220 0500

www.finncap.com

TB Cardew

Shan Shan Willenbrock

Tom Allison

Joe McGregor

 

+ 44 (0)20 7930 0777

innovaderma@tbcardew.com

 

About InnovaDerma:

InnovaDerma PLC (LSE: IDP) specializes in the research, manufacture and marketing of clinically proven products in life sciences, beauty and personal care products. InnovaDerma has presence in Europe, US, Australasia, Asia and Africa. 

www.innovaderma.com

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
TSTCKCDBOBKDBDK
Date   Source Headline
15th Oct 20202:00 pmRNSPrice Monitoring Extension
30th Sep 20207:00 amRNSFinal Results
28th Sep 20207:00 amRNSUS distributor appointed and Nuthing launch in AUS
18th Sep 20207:00 amRNSNotice of Results and Presentation
1st Sep 20209:37 amRNSHolding(s) in Company
12th Aug 202010:58 amRNSHolding(s) in Company
5th Aug 20209:15 amRNSDirectorate Change
31st Jul 202010:22 amRNSHolding(s) in Company
13th Jul 20209:40 amRNSHolding(s) in Company
10th Jul 20207:00 amRNSTrading Statement
1st Jul 202010:10 amRNSHolding(s) in Company
12th Jun 20205:57 pmRNSHolding(s) in Company
26th May 20207:00 amRNSTrading Statement
13th May 20204:42 pmRNSHolding(s) in Company
7th May 202010:52 amRNSDirector/PDMR Shareholding
6th May 202010:05 amRNSHolding(s) in Company
4th May 202011:09 amRNSHolding(s) in Company
30th Apr 202011:05 amRNSSecond Price Monitoring Extn
30th Apr 202011:00 amRNSPrice Monitoring Extension
6th Apr 20202:05 pmRNSSecond Price Monitoring Extn
6th Apr 20202:00 pmRNSPrice Monitoring Extension
6th Apr 20207:00 amRNSCOVID-19 Update
23rd Mar 20207:00 amRNSDirector/PDMR Shareholding
18th Mar 20201:56 pmRNSDirector/PDMR Shareholding
17th Mar 20201:52 pmRNSHolding(s) in Company
16th Mar 202012:54 pmRNSDirector/PDMR Shareholding
12th Mar 20202:37 pmRNSDirector/PDMR Shareholding
12th Mar 202011:06 amRNSSecond Price Monitoring Extn
12th Mar 202011:00 amRNSPrice Monitoring Extension
3rd Mar 202010:47 amRNSDirector/PDMR Shareholding
25th Feb 202011:52 amRNSHalf-year Report- Replacement
25th Feb 20207:00 amRNSHalf-year Report
24th Feb 20207:00 amRNSInnovaDerma launches new brand "Nuthing"
3rd Feb 20207:00 amRNSNotice of Results
23rd Jan 20208:48 amRNSGrant of Options/PDMR Dealing
9th Jan 20207:00 amRNSTrading Statement
5th Dec 20197:00 amRNSDTC channel delivers best Black Friday weekend
29th Nov 20192:26 pmRNSDirector/PDMR Shareholding
28th Nov 20193:21 pmRNSDirector/PDMR Shareholding
20th Nov 20197:00 amRNSLaunch of new Skinny Tan 'Choc' range in Superdrug
13th Nov 201912:39 pmRNSDirector/PDMR Shareholding
8th Nov 20193:40 pmRNSDirector/PDMR Shareholding
8th Nov 20193:22 pmRNSDirector/PDMR Shareholding
7th Nov 20192:33 pmRNSHolding(s) in Company
7th Nov 20191:55 pmRNSHolding(s) in Company
7th Nov 20191:53 pmRNSDirector/PDMR Shareholding
7th Nov 20191:47 pmRNSDirectorate Change
6th Nov 201911:01 amRNSResult of AGM
6th Nov 20197:00 amRNSAGM Statement
31st Oct 20197:00 amRNSLaunch of new category in Superdrug

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.