StockMarketWire.com - Beauty brands business Brand Architekts reported a fall in profit for the year as the impact of the pandemic disrupted activity leading to a sharp decline in revenue.

For the 52 weeks ended 27 June 2020, pre-tax profit fell to £2.2 million from £4.1 million year-on-year as revenue decline to £23.7 million from £77.3 million.

UK sales declined 16%, driven by 'low consumer confidence and pressure within the retail environment, and the impact of store closures as a result of the outbreak of COVID-19,' the company said.

'The final quarter of the financial year was heavily impacted by COVID-19, with non-essential retailers closed during this period and international business effectively on hold,' it added.

'There is still considerable work to be done on relaunching a number of underperforming brands; rationalising ranges & improving productivity. All of these plans are in place but given retailer range review dates, will not come to fruition until H2 this year.'






At 9:10am: [LON:BAR] Brand Architekts Group Plc Ord 5p share price was -6.5p at 113.5p



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