Revenue growth accelerated in Q419, resulting in Claranova reporting revenue growth of 62% and organic revenue growth of 37% for FY19. Increased investment in customer acquisition was behind much of this growth. The company completed the acquisition of Personal Creations (PC) post year-end, adding a new range of personalised products to the PlanetArt business in the US. We have revised our forecasts to reflect recent trading, the PC acquisition and the recent reverse stock split.
09 Aug 2019
Claranova - Boosting organic growth with US acquisition
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Claranova - Boosting organic growth with US acquisition
- Published:
09 Aug 2019 -
Author:
Katherine Thompson - Pages:
Revenue growth accelerated in Q419, resulting in Claranova reporting revenue growth of 62% and organic revenue growth of 37% for FY19. Increased investment in customer acquisition was behind much of this growth. The company completed the acquisition of Personal Creations (PC) post year-end, adding a new range of personalised products to the PlanetArt business in the US. We have revised our forecasts to reflect recent trading, the PC acquisition and the recent reverse stock split.