Revolution Beauty returns to profit as new strategy delivers results
Revolution Beauty has returned to profit after it benefited from a new strategy of focusing on core product categories.
The company posted a pre-tax profit of £11.4 million in the year to 29 February compared to a loss of £33.9 million in the previous year. Adjusted EBITDA rose to £12.6 million from a prior loss of £7.5 million, which Revolution Beauty attributed to better inventory purchasing and increased control of overheads and direct costs.
Meanwhile, revenue grew by 2% to £191.3 million after a strong performance in the rest of the world more than offset a weak performance in the US and ecommerce.
The company said it is making good progress in its strategy to “Reignite the Revolution” by focusing on the Revolution Masterbrand and powering core product categories as it looks to become a global top five player in the mass beauty market. .
Lauren Brindley, chief executive of Revolution Beauty, said: “FY24 was a year of great strategic and financial progress following two challenging years. I am extremely proud of what Team Revolution has achieved. Our new Reigniting the Revolution strategy is already delivering improvements across the business, strengthening our core and providing a much firmer platform from which to grow.”
