High Single-Digit Revenue Growth Expected for FY24 with New Leadership in Place
- Revolution Beauty’s pre-tax losses narrowed to £33.9m in FY23
- New CEO Lauren Brindley appointed, starting on 18 September 2023
- Revenue grew 3.2% to £187.8m due to reopening of physical stores
- Gross profit increased by 4.9% to £75.9m
- Adjusted EBITDA loss widened from £0.8m to £7.5m due to higher staffing costs and marketing expenses
- High single-digit revenue growth expected in FY24 with adjusted EBITDA in high single digits
- Colin Henry and Chris Fry appointed as independent non-executive directors
Revolution Beauty has reported a narrowing of pre-tax losses to £33.9m for the year ended 28 February 2023, marking a 12% decrease from the previous year’s £45.9m loss. The company attributed this improvement to the reopening of physical stores and the appointment of Lauren Brindley as CEO, who was previously group vice president for beauty and personal care at Walgreens. Revolution Beauty’s revenues grew 3.2% to £187.8m, with store revenues increasing by 8.1%. Online sales dropped by 12.1%, while gross profit rose by 4.9% to £75.9m. Adjusted EBITDA loss widened from £0.8m to £7.5m due to increased marketing expenses and higher staffing costs. Revolution Beauty expects high single-digit revenue growth in FY24 with an adjusted EBITDA in the high single digits. Colin Henry and Chris Fry have also been appointed as independent non-executive directors.
Factuality Level: 8
Factuality Justification: The article provides accurate and objective information about Revolution Beauty’s financial performance, including losses, revenues, and changes in different areas of the business. It also reports on the appointment of a new CEO and other key personnel changes. The article is focused on the main topic without digressions or unnecessary details.
Noise Level: 3
Noise Justification: The article provides relevant information about Revolution Beauty’s financial performance and the appointment of a new CEO, with some details on the company’s expectations for future growth. It also includes quotes from the executive chairman. However, it does not contain any misleading or irrelevant information, nor does it dive into unrelated territories.
Financial Relevance: Yes
Financial Markets Impacted: Revolution Beauty’s financial performance impacts its stock price on AIM
Financial Rating Justification: The article discusses the company’s financial results, including losses, revenues, and expectations for future growth. It also mentions the appointment of a new CEO which could impact the company’s direction and performance.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There are no extreme events mentioned in the article.
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