Innovaderma reports significant revenue growth acceleration in H2

Innovaderma's shares are up more than 16% after reporting in a trading update that the revenue growth it achieved in the first half of 2017 has been significantly accelerated in the second six months.

The UK developer of life sciences, beauty and personal care products added trading in the third quarter was robust, with January and March achieving the highest-ever monthly revenues and subsequently delivering the highest ever quarterly revenues.

Innovaderma said this strong performance was driven by its Direct to Consumer digital channel, which was performing exceptionally well compared to the same period in the previous year.

"Skinny Tan's performance in Superdrug has been outstanding and the board is very pleased to announce the brand has become the No.1 selling brand in Superdrug by revenue in its category for 2017, despite only being granted increased shelf space from mid-February onwards," it said.

The Group's free cash flow generation and balance sheet remained strong.

Executive chairman Haris Chaudhry said that as Innovaderma built a sizeable stable of premium and highly differentiated brands with international appeal, it was being sought after by market leading e-tailers and distributors.

This provided the company with significant opportunities to expand further our geographical reach and customer base."

At 12:38 GMT, shares in Innovaderma were up 16.10p to 155p, and off earlier highs approaching 175p.