Revolution Beauty Group PLC, the London-listed cosmetics company, has announced that it expects to report a significantly lower adjusted EBITDA for the year ended February 28, following a revision to the treatment of stock provisions.
The company, which has been under scrutiny for its accounting practices, said that its profit would be approximately £4.7 million, a figure well below previous market expectations.
The announcement was made after a review by its auditors and highlights the continued challenges the company faces in its financial reporting and operational management.
The news sent a negative signal to investors, who had already been cautious about the company's recent performance.
The profit warning is a blow to the brand, which had hoped to turn a corner after previous controversies.
It underscores the importance of transparent and accurate financial reporting and the impact that accounting issues can have on a company's stock performance and market credibility.
The company is now focused on rectifying its accounting processes and reassuring investors about its future strategy, but the latest news adds another layer of uncertainty for shareholders.
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Revolution Beauty has issued a profit warning, stating that its adjusted EBITDA will be lower than expected after a revision to its stock provisions.
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