Share Price.com
Market Update Economic Events Directors Deals Commodities Prices News Market Movers

InnovaDerma well ahead of forecasts

Monday, 19th June 2017
InnovaDerma expects revenue and profits for the full year to 30 June to be well ahead of expectations.

The company's pre-close trading update said that overall revenues were expected to increase by 80% on a constant currency basis to approximately £9 million.

It said: "Revenues have been bolstered by the exceptional performance of Skinny Tan through the company's fast-expanding direct to consumer platform and retail channels, with the brand achieving the highest-monthly revenues for four months in the second half of financial year 2017.

"Underlying profit before tax is expected to increase by 355% to approximately £1.28 million excluding one-off costs (2016: £0.281 million on a constant currency basis) driven by a more efficient supply chain which has led to an improvement in gross margin of approximately 62% (2016: 57.4%), up 400 bps.

"The Group has maintained a strong balance sheet."




Story provided by StockMarketWire.com

Related Shares: Innovaderma

Share Search
Share Search Share Search

Visit the Share Search.
Share Search

Share News
Share News



SharePrice.com will do their best to ensure the quality of the information displayed on this site, but all information is provided as-is, free of charge. We cannot be held responsible for any loss, material or otherwise, due to incorrect information found here. UK data supplied by NBTrader and Digital Look. Share Prices are at least 15 minutes delayed.