Revolution Beauty confirms shares suspended on delayed results

By

Sandra Halliday

Published
Aug 30, 2022

Revolution Beauty Group has confirmed that its share are being suspended from trading as of September 1 due to the multi-channel mass beauty retailer being late with its audited final results and annual report for FY22.

The firm had said on August 19 that it didn’t expect to compete the audit and publish the information by August 31 and suggested that share trading could be put on hold as a result.

On Tuesday, it confirmed that it definitely won’t be in a position to publish the report on time, hence the share suspension.

The company said that it “aims to complete its audit and publish its annual report within a matter of weeks of this announcement, post which trading in the company's ordinary shares is expected to recommence”.

Despite the issues, Revolution clearly has momentum behind it and earlier this month made more positive headlines when it emerged that fashion e-tail giant Boohoo has acquired a 7.1% stake in the group. 

The company said that the investment “builds upon the existing relationship between Boohoo and Revolution Beauty, under which Revolution Beauty products are sold through several of the group's direct-to-consumer brand websites and its online digital department store, Debenhams”.

Boohoo added that its stake buy came as it believes in the growth potential of Revolution and “intends to be a supportive stakeholder and long-term partner”.