IDP Innovaderma Plc

TIDMIDP

RNS Number : 5475G

InnovaDerma PLC

07 November 2018

LEI: 213800WRAP6W8VDL6B38

InnovaDerma PLC

("InnovaDerma" or the "Company")

Annual General Meeting Statement

InnovaDerma (LSE: IDP), a UK developer of life sciences, beauty and personal care products, will hold its Annual General Meeting today at 10.00am at finnCap Ltd, 60 New Broad Street, London EC2M 1JJ. At the meeting, Executive Chairman, Haris Chaudhry, will make the following statement:

"InnovaDerma is now at a strategic inflection point as exclusivity periods end for our flagship products and leading new retailers come on board in the coming months. Skinny Tan will be making its way into c.1,250 Boots stores from March 2019 in time for the commencement of the peak-tanning season and with Roots securing Tesco and Boots distribution, we expect the second half of the year to be disproportionally higher than in previous years given the phasing of new distribution. Our distribution channels will increase significantly this financial year as our UK retail store network grows from c.800 (FY2017) to c.2,400. We expect revenues for the first half of the financial year to be similar to last year and the full year is expected to be approximately GBP14m."

Further Enquiries

 
 Innovaderma 
  Haris Chaudhry/Joe Bayer                      +61 (0)3 9111 0071 
 finnCap Ltd                                       +44 (0) 20 7220 
  Geoff Nash/Giles Rolls/Kate Bannatyne                       0500 
  Tim Redfern/Alice Lane - Corporate Broking       www.finncap.com 
 TB Cardew 
  Shan Shan Willenbrock 
  Tom Allison                                      + 44 (0)20 7930 
  Joe McGregor                                                0777 
 

About InnovaDerma

InnovaDerma PLC (LSE: IDP) specializes in the research, manufacture and marketing of clinically proven products in life sciences, beauty and personal care products. InnovaDerma has presence in Europe, US, Australasia, Asia and Africa.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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November 07, 2018 02:00 ET (07:00 GMT)

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