Revolution Beauty Group has reported robust revenue and EBITDA growth in the year ending February 28, in line with market expectations.
The British cosmetics group posted annual revenue of 194 million pounds, a 42 percent increase from the previous year despite inflationary pressure and pandemic related volatility.
The group said it had a record Q4, helping to increase sales in the second half by 44 percent.
In the UK, full-year store sales increased 85 percent year-over-year as footfall improved post lockdown.
In the US, store sales were up 27 percent against a strong FY21 comparison. The group said the US is now its biggest single market, representing around 20 percent of its business.
Rest of the World Sales increased by 79 percent and now represents around 35 percent of the group’s global business.
Meanwhile, adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA), jumped 73 percent to 22 million pounds.
“We had a record fourth quarter in FY22 and saw strong broad-based sales growth across categories and geographies with revenue for the full year increasing by 42 percent against the previous year,” group CEO Adam Minto told investors.
He hailed the success of the group’s ‘In Real Life’ make-up range co-created by Sali Hughes skincare range, as well as its launch this week into 2,800 Walgreen Stores across the US.
Minto continued: “In a world where consumers are feeling the pressure from increased prices in almost every aspect of their lives, mass market beauty is perfectly positioned as the affordable choice.
“Like everyone, we remain mindful of the current economic climate, but we know Revolution’s mission to offer quality products at affordable prices remains as relevant as ever. Looking ahead, Revolution remains confident as it pursues its strategy and continues its growth trajectory.”