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InnovaDerma revenues hurt by challenges in direct-to-consumer channel

Thursday, 10th January 2019
InnovaDerma said its first-half revenues took a hit from challenges in the direct-to-consumer channel, which had since been resolved, paving the way for a much better second half.

For the six months ended 31 December, revenue fell to £3.9m from £4.2m a year earlier, with the company blaming the decline on increasing competition on social media platforms and changes to Facebook's algorithm, prioritising personal engagement over businesses and brand.

UK direct-to-consumer sales grew by 36%, driven predominantly by the Roots brand, which delivered its best sales performance to date in Boots' stores, the company said.

The second half of the year had begun strongly through the DTC channel and detailed planning for the major launch of Skinny Tan in Boots was being finalised with the retailer, with the product expected hit shelves from mid-February or early March 2019.

The new inventory for both of its Life Science products, Prolong and Hair Helmet, was now available and promotion was set to get underway in key geographical markets.

'We expect the second half of the year to be disproportionally higher than in previous years given the phasing of our substantially wider distribution network,' the company said.

At 9:14am: (LON:IDP) InnovaDerma Plc share price was -11.5p at 83p

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