Business
Press Release
Press Release.
About this update from Tern Plc
[{"type":"text","content":"\n \n\n\n\n The Core Business strengthens further according to Preliminary\n results\n\nThe Core Business: Preliminary Results - Half Year ended 30 November\n 2008\n\nThe Core Business PLC, ('the Company') the innovative beauty brand\nbusiness, announced its preliminary results for the half year to 30\nNovember 2008 last week.\n\nGrowing sales by over 55% to £1,506,000 the Company has performed\nwell in the half year period despite the downturn in consumer\nspending. With its cosmetics, skincare and beauty accessories brands\nand its penetration in volume mass and mid retail distribution\nchannels, The Core Business believes it is well placed to take\nadvantage of consumers trading down and seeking high quality\nvalue-for-money products. Its also believes that the \"lipstick\nfactor\" where consumers unable to afford high ticket items spoil\nthemselves on small low cost indulgent products such as lipsticks\nwill keep the beauty business reasonably resilient to the effects of\nrecession.\n\nIn addition the business has recently strengthened its Board\nfollowing the appointments of Matt Cooper as Non-Executive Chairman\nand Muriel Zingraff as Non-Executive Director.\n\n\nChief Executive Stirling Murray said:\n\n\"The business operates in a highly dynamic fast changing market where\n\"newness\" is vital. The Core Business has a strategic objective of\ndelivering 35% of sales from products or brands that are newly\nlaunched and were unavailable in the previous year. For the half year\nperiod new brands have accounted for 36% of sales. This strategy\nrequires a strong focus on new product development and continual\ncritical assessment of new brand distribution opportunities. This\ntakes a high proportion of management time but will be worthwhile as\nwe seek to build critical mass in revenue and profitability.\"\n\nHIGHLIGHTS\n\n* Revenue for the half year increased by approximately 55%\n to £1,506,000 versus £972,000 for the corresponding half year\n period last year.\n* Reduced loss for the half year of £76,000 (six months to\n 30 November 2007: £143,000 loss).\n\n* The Company's focus on distributing brands into major\n retailers and creating and owning its own brands has had a\n significant effect on revenues. Bloom colour cosmetics, a\n distributed brand under a five year exclusive UK agreement launched\n in September 2008 a...