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Beauty and personal care brands supplier Brand Architekts warned on performance after half-yearly profit slumped as revenue was pressured by a decline in its international business.
'The board has reassessed its outlook for the rest of the financial year and based on the continuing challenging market conditions and the slower pace of sales in the first half, has reduced its revenue expectations,' the company said.
'In addition, given the level of competitive pricing and promotional pressure experienced in the market, the Board anticipates that the group's operating profit will be impacted resulting in a significant decrease to previous market expectations,' it added
For the 28 weeks ended 11 January 2020, pre-tax profit fell to £302K from £1.14m on-year as revenue declined by 15% to £10.6m.
Revenue was 'significantly' impacted by a strong decline in international sales, which fell 23% on-year resulting from currency devaluation and tariff pressures.
UK sales, meanwhile, declined by 13% amid a challenging retail environment.
The company proposed an interim dividend proposed of 0.9p per share.
At 10:06am: (LON:BAR) Brand Architekts Group Plc Ord 5p share price was -37.5p at 125p