Brand Architekts Grp - Trading Update
21/07/2022 07:00
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RNS Number : 2121T Brand Architekts Group PLC 21 July 2022
21 July 2022
Brand Architekts Group PLC
("Brand Architekts" or the "Company" or the "Group")
Trading Update
Brand Architekts Group plc, a challenger British Beauty brand business,
announces an update on trading for the 52 weeks to 30 June 2022.
Group sales for FY22 are expected to be c.£14.2 million (FY 2021: £15.9m), a
decrease of 11% as the Group navigated the challenging external environment
and the impact of reduced consumer confidence on demand. Excluding the
contribution from Innovaderma, which was successfully acquired on 31 May 2022
and which delivered £0.8m of sales in June, organic sales decreased 16% on
the prior year. Given the challenging trading environment the Group generated
an operating loss in the second half in line with that reported in the first
half but was also impacted by lower revenue in the period. The Group retains a
net cash position of c£11.3m at the year end (after the payment of the cash
consideration to acquire Innovaderma and the majority of the associated
transaction costs).
During the period the Company successfully relaunched seven brands in
September & October 2021 (Dr Salts; Root Perfect; Argan +; SenSpa; Kind
Natured; Happy Naturals; Beautopia) and was pleased with a resilient
performance from its three largest brands, Skinny Tan, Super Facialist and
Dirty Works.
Following the acquisition of Innovaderma, the combined Group is of greater
scale with strong financial foundations and a number of complementary
competencies.
Notwithstanding difficult market conditions and inflation headwinds the
management team are now focused upon realising both the strategic and
financial benefits of the newly transformed Group. The immediate priorities
that lie ahead are implementing an effective integration plan, increasing
international expansion and delivering both companies' strategies through the
experiences and success of its online presence as well as the Group's retailer
customer base.
For further information please contact:
Brand Architekts Group PLC via Alma
Quentin Higham / Tom Carter
Singer Capital Markets (Nominated adviser and broker) 020 7496 3000
Shaun Dobson / Jen Boorer / Dan Dearden-Williams
Alma PR 0203 405 0205
Josh Royston / Sam Modlin
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