StockMarketWire.com - Beauty brand developer InnovaDerma reported a fall in first-half revenue following lower marketing spending, but the company said it was on track to return to profit this year.

Revenues fell to about £3.7 million versus last year's £4.1 million, primarily driven by 'ceasing loss-making sales promotions and reducing marketing investment in lower priority brands such as Nuthing,' the company said.

Still, the company remained optimistic that the transformation plan enacted this year, as well as underlying improved consumer consumption and retail momentum versus last year would enable the business to continue its improvement trajectory with a return to profitability this year.

While the omicron variant impact had a cooling effect on pre-Christmas trade in the UK, the company said it had begun to see the start of a 'bounce back.'


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