Innovaderma (IDP)

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Innovaderma IDP Logo

Develops a range of male and female at-home and clinically proven treatments for hair loss, hair care, self-tanning and skin rejuvenation.

8-Nov-2017 – 229p – £32.5m – PER 16

AGM Statement And Operational Update – Quite a bullish update but no financials mentioned. New product (Roots) will go into 521 Superdrug stores from January 2018. The Executive Chairman states that “Growth prospects remain substantial” – Of course they do!

Since floating about a year ago this share has been on a rollercoaster, from 70p to 400 to todays level. I just have no idea how to take this one. It says it wants to replicate the success of Skinny Tan (with the Roots product for example) – I just have to wonder how successful Skinny Tan has really been.

 

16-Jan-2017 – 264.6p – £38.0m – PER 17.2

Trading Update For The 6 Months To End December 2017 – Revenue up 31% (CC) to £4.2m (H1 FY2016: £3.2m), Skinny Tan in the UK doing well. The Roots™ Double Effect (“Roots”) haircare range, launched in August 2017 is growing in popularity and has performed strongly in the period. Confident of meeting market expectations for the current financial year with much greater revenue visibility for the second half than in prior years.

Good news for Skinny Tan and the new Roots product too – It seems. I am now going to add this to my Watchlist, 220p.

Subsequently revised Watchlist price, 180p.

15-Feb-2018 – 190.6p – £27.4m – PER 12.0

Results For The 6 Months To End December 2017 –  Revenue up 31%, Loss Before Tax of £0.03m due to investment in people and product launches.  Expects Revenue and Profits to grow considerably in H2 and confident of meeting FY market expectations.

Remains on my Watchlist at 180p, always tempted to buy a few of these although it does seem quite speculative – Stockopedia agrees and classes it as “Highly Speculative”.

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