Interim results to 31 December were 2% ahead of the 9 January trading statement, with revenues rising 33% to £5.1m, resulting in a pre-tax loss of £0.3m and period-end cash of £0.4m. Against a challenging retail background, these are strong results, with revenues also up 17% in the first seven weeks of H2. However, with key trading months (Mar-June) still to come, we have taken a more conservative stance with Roots revenues cut to reflect challenges to the bran, which should
25 Feb 2020
InnovaDerma - Interims – strong H1 offsets challenging macro backdrop
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InnovaDerma - Interims – strong H1 offsets challenging macro backdrop
- Published:
25 Feb 2020 -
Author:
Mark Brewer | Cavendish Research -
Pages:
11
Interim results to 31 December were 2% ahead of the 9 January trading statement, with revenues rising 33% to £5.1m, resulting in a pre-tax loss of £0.3m and period-end cash of £0.4m. Against a challenging retail background, these are strong results, with revenues also up 17% in the first seven weeks of H2. However, with key trading months (Mar-June) still to come, we have taken a more conservative stance with Roots revenues cut to reflect challenges to the bran, which should