Revolution, Made.com, Smiths Group, In The Style: Morning Roundup

The FTSE traded lower this morning as markets reacted to a 50 basis point rate hike by the BoE. Central banks have dominated the news this week, but attention now turns to the outlook for stocks. Here is a round-up of stories that caught our eye on Friday:

Revolution Beauty

  • Revolution Beauty provided updates regarding the Group’s audit.
  • The company’s auditor, BDO, has identified a number of serious concerns that have arisen during the course of its work on the FY22 audit.
  • BDO has indicated that, at the present time, it is not able to sign an audit report in respect of the FY22 accounts.
  • The company now expects the first half of the year to deliver low single-digit revenue growth.

Made.com

  • Made.com has conducted a formal review of the various strategic options to maximise value for shareholders.
  • The continued uncertainty and deterioration of trade meant the board has concluded it is appropriate to withdraw its full-year guidance.
  • The board plan to reduce its costs further with a process in place to implement additional cost reductions.
  • Made.com plummeted 19% this morning.

Smiths Group

  • Smiths Group reported its FY22 results, which saw a year of accelerating growth and stronger execution.
  • Organic revenue grew 3.8%, which was ahead of expectations.
  • The company also reported high demand across most end markets, with strong order growth of +11%.
  • Smiths shares increased 3.16%.

In The Style

  • In The Style announced its trading update on Friday.
  • The company reported net cash was at $4.3 million, in line with the board’s expectations.
  • CEO Sam Perkins stated, “We have made solid progress against the Group’s refined long-term growth strategy outlined at our FY22 results in July.

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