StockMarketWire.com - Beauty group Revolution Beauty reported first-half wider losses as rising costs offset an increase in revenue.

For the six months ended 31 August 2021, pre-tax losses widened to £15.1 million from £6.1 million year-on-year, while revenue grew 39% to £78.6 million.

Gross Margin increased to 47.9%, ahead of 47.7% in the same period last year primarily driven by underlying product margins and customer mix. This is despite the increased costs pressures on freight which have successfully been offset in H1.

'The group is working collaboratively with suppliers to continue to mitigate them in H2 We remain confident of meeting market expectations for the full year, though we continue to be mindful of ongoing volatility and disruption caused by the pandemic,' the company said.

'We have been actively managing cost pressures related to global supply chain disruptions through careful forward planning, strong inventory management and working collaboratively with our suppliers. We continue to take action to mitigate costs in H2,' it added.


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