InnovaDerma PLC Operational Update (0763M)

TIDMIDP

RNS Number : 0763M

InnovaDerma PLC

26 July 2017

InnovaDerma PLC

("InnovaDerma" or the "Company")

Operational Update

InnovaDerma (LSE: IDP), a UK developer of life sciences, beauty and personal care products, provides an operational update.

The Board is pleased to announce that last month delivered the highest-ever monthly revenue that the Company has achieved. Consequently, five of the last six months have delivered record revenues.

Skinny Tan

The Company is in the process of relaunching Skinny Tan in Australia and New Zealand with the UK packaging design and backed by a strong marketing & PR campaign. The relaunch will take place in the first quarter of FY 2018 to coincide with the start of the peak tanning season and the Company expects this will drive revenue growth for FY 2018.

The Company has developed Skinny Tan Salon Effects Spray(TM) , a coconut-scented salon quality self-tanner spray containing 100% certified natural tanning agent and guarana for customers who want to attain a salon quality, streak-free instantly-bronzed skin at home. The new product will be available in two different shades and launched in Superdrug stores as well as the Company's Direct to Consumer ('DTC') platform in the first quarter of FY 2018.

Skincare - Body Glow(TM) Milk Spray:

InnovaDerma has developed Body Glow(TM) Milk Spray, under the Body Glow(TM) range which was launched earlier this year as a skin care product in Superdrug stores. Body Glow(TM) is a light milk spray which is a fast-absorbing and hydrating body moisturiser that gives customers a sun-kissed look. The new product is expected to be launched in Superdrug and on the Company's DTC platform in in the first quarter of FY 2018.

Stevie K

The Company is launching Stevie K's new website and lip-only products through its DTC platform in Australia next month. The Company has extended Stevie K's range of cruelty free, award winning products to include face and eye make-up, and expects to launch in the UK through its DTC platform in the first quarter of FY 2018. Stevie K is expected to be launched in other international markets shortly thereafter.

International distribution network

In line with its strategy of growing its network of global retailers to support its products, InnovaDerma has appointed a European distributor, E4E, to identify and secure key distribution partners throughout continental Europe for its brands, and discussions with various retail partners are under way. The Company recently showcased its products at Cosmoprof Vegas, the largest beauty trade show in the US, where its brands received strong levels of interest from North American retailers and distributors.

Team expansion

The Company has successfully appointed a number of key executives for new Business Development and Marketing roles in the UK and Australia to support the growth of the business as new markets and retail channels open up for its portfolio of brands. The Company has also announced today the appointment of Ross Andrews as a Non-Executive Director to strengthen its PLC Board.

The Company will announce its Final Results for the year ending 30 June 2017 in mid-September.

Haris Chaudhry, Executive Chairman of InnovaDerma, said: 'The Company continues to make excellent progress and we have appointed new talent across the business as we continue on our path of accelerated growth, showcase our brands to new markets, launch innovative new products and bring in new domestic and international retail and etail partners.'

Further Enquiries

 
 InnovaDerma                                  [phone] 
  Haris Chaudhry/Joe Bayer                             0071 
 finnCap Ltd                                [phone] 
  Geoff Nash/Giles Rolls/Kate Bannatyne                0500 
  Tim Redfern/Alice Lane - Corporate        www.finncap.com 
  Broking 
 Cardew Group 
  Shan Shan Willenbrock 
  David Roach                               + 44 (0)20 7930 
  Joe McGregor                                         0777 
 

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 the UK, US, Australia, New Zealand, Philippines, South Africa, Hong Kong and South Korea.

www.innovaderma.com

This information is provided by RNS

The company news service from the London Stock Exchange

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July 26, 2017 02:01 ET (06:01 GMT)