Revolution Beauty Group PLC on Friday said it expects to report financial 2022 results in line with expectations, as retail sales bounced back to pre-pandemic levels.
The beauty and personal care products maker and retailer saw continued positive momentum in the second half of the year ended February 28, with sales up roughly 44% compared to a year before.
It expects to report results in line with expectations, with revenue of £194 million, reflecting a 42% increase from the previous year. Adjusted earnings before interest, tax, depreciation, and amortisation is expected to amount to £22 million, up 73% on financial 2021.
Revolution credited its growth to a record fourth quarter that saw global retailer expansions with Boots UK Ltd and Walgreens Co, both part of Walgreens Boots Alliance Inc.
UK store sales grew 85%, supported by a post-pandemic recovery in footfall amongst its retail partners and a successful rollout of Makeup Revolution into Boots stores.
The US became Revolution’s biggest single market in the year and delivered sales growth of roughly 27%.
‘This growth was achieved against a strong comparator, where Makeup Revolution was rolled out across Target Corp for the first time,’ Revolution added.
Sales in the rest of the world bounced back in financial 2022, with strong sales growth of roughly 79% in the year.
‘The group delivered a strong full-year performance, in line with expectations, and driven by the strength of our omnichannel route to market,’ Chief Executive Adam Minto commented.
Looking ahead, Revolution said it remains confident about further growth.
‘The success of our In Real Life make-up range, our co-created Sali Hughes skincare range, plus our successful launch this week into 2800 Walgreen stores across the US, all demonstrate continued strong momentum into the first quarter of the year and give us real confidence as we move forward,’ Minto continued.
Shares were up 1.3% at 118.00 pence each on Friday morning in London.
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