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Revolution Beauty Group PLC - London-based cosmetics retailer - Expects adjusted earning before interest, tax, depreciation and amortisation of £11 million to £12 million in the financial year that finishes at the end of this month. This would be dramatically improved from an adjusted Ebitda loss of £7.5 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.
Revolution 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. With a new chief executive officer, Lauren Brindley, at the helm, Revolution Beauty tells a capital market event it hosts on Thursday that it is aiming for £1 billion in annual retail brand sales by 2030, which would make it a ‘top five mass beauty brand globally’, even as it cuts costs by £10 million over the next three years.
Current stock price: 29.14 pence, down 9.0% in London on Thursday
12-month change: up 19%
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