We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Innovaderma Plc | LSE:IDP | London | Ordinary Share | GB00BT9PTW34 | ORD EUR0.10 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 29.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMIDP
RNS Number : 1171H
InnovaDerma PLC
08 March 2018
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 year ending 30 June 2018.
The Company has made considerable progress and the Board continues to expect the second half year to outperform the first half significantly, however revenue growth for the year will now be less than anticipated at the time of the interim results. This has been mainly driven by lower than expected orders placed by Superdrug for Skinny Tan despite the brand's continued growth. The IRI data (world's largest independent data provider for Fast-Moving Consumer Goods (FMCG)) highlights that in Superdrug, Skinny Tan's revenue (including sub brand Body Glow) grew by 210% for the 52 weeks until the end of 24 February 2018 compared to the same period in the previous year. For the 12 weeks ending 24 February 2018, revenues were up 60% versus the same period last year.
The Company's Direct to Consumer ("DTC") platform for Skinny Tan is performing well and in line with management expectations. The Group is in discussions with several new distribution partners for the ranging of Skinny Tan.
Roots, the Company's haircare range continues to deliver strong growth through DTC and in Superdrug with online engagement rising every week across its product range. IRI data estimates that for the 12 weeks until the end of 24 February, revenues were up 254% compared to the previous 12 weeks.
The Group expects revenues to be substantially higher than last year. The profit before tax is now expected to be similar to FY17 due to the significant investment made across the business over the last six months.
Haris Chaudhry, Executive Chairman said
"Whilst we expect our full year results to be below our earlier expectations, InnovaDerma continues to perform strongly and profitably. Our online engagement continues to grow daily which is driving revenue through to our DTC platforms. We are in discussions with several new retail distributors and product innovation remains on track. The business remains robust with several product and market launches expected in the coming months to generate further growth."
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
Further enquiries
InnovaDerma Haris Chaudhry/Joe Bayer +61 (0)3 9863 8030 ------------------------------ ----------------------- finnCap Ltd Geoff Nash/Giles Rolls/Kate +44 (0)207 220 0500 Bannatyne www.finncap.com Alice Lane - Corporate Broking ------------------------------ ----------------------- TB Cardew Shan Shan Willenbrock David Roach Joe McGregor + 44 (0)20 7930 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 Europe, US, Australasia, Asia and Africa.
www.innovaderma.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
TSTFKFDDKBKDBNK
(END) Dow Jones Newswires
March 08, 2018 05:13 ET (10:13 GMT)
1 Year Innovaderma Chart |
1 Month Innovaderma Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions