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LONDON - Revolution Beauty Group Plc (LSE:REVB) announced Tuesday it has revised its adjusted EBITDA forecast for the financial year ended February 28, 2025, to approximately £4.7 million, down from the previously expected range of £6.0 million to £6.5 million.
The adjustment comes after the company reached an agreement with its auditors to modify the definition of an adjusting item related to stock provision charges. The revised definition now pertains solely to inventory sold or expected to be sold through outlet channels, rather than all non-strategic stock.
As a result of this definitional change, the value of the adjusting item decreased from approximately £10.3 million to £8.5 million, directly impacting the adjusted EBITDA figure.
Revolution Beauty characterized the adjusting item as "non-cash and non-recurring in nature," attributing it to a significant rationalization of the company’s product portfolio. The company stated that the revised definition requires less judgment to estimate the value.
The beauty products manufacturer also provided a brief update on its ongoing Formal Sale Process, noting continued engagement with multiple parties. Additionally, the company reported it is advancing "constructive engagement" with stakeholders regarding a potential equity raise.
Revolution Beauty expects to publish its audited results for FY25 before the end of August 2025, according to the press release statement.
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