Revolution Beauty has reported a 60% uplift in sales in the first three months of its financial year as it updated shareholders on trading in light of the requisition notice by Boohoo.
The make-up brand said gross margins were 48.2% in the period compared to 41.7% at the corresponding time last year. Meanwhile EBITDA at constant currency was £3.5 million.
Revolution Beauty shares have been suspended September after auditors failed to complete its results on time. This led to the group calling in a law firm and forensic accountants to conduct an independent investigation after auditors raised concerns over its FY22 accounts. Today the company said it is on the cusp of having trading in its shares on AIM restored.
Yesterday, Boohoo announced that it intended to include Rachel Horsefield, the former chief executive of beauty at THG, in the future independent board appointment process of Revolution Beauty.
