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TRADING UPDATES: Revolution Beauty and Restore grow with acquisitions

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on ...

Alliance News 27 October, 2021 | 2:47PM
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(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

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Restore PLC - Redhill, England-based document management and IT recycling business - Buys records management business The Document Warehouse in the UK for GBP6.5 million. The Kent-based business generates annual revenue of around GBP550,000. Importantly, the business has a modern freehold warehouse and logistics centre that will provide an additional, strategically well-located site with capacity to service London and the South of England, Restore says. This is the company's the sixth acquisition this year and brings the total invested year to date to GBP83.9 million.

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Revolution Beauty Group PLC - AIM-listed beauty products retailer - Buys Medichem Manufacturing in a GBP23.0 million deal. Medichem is a long-standing supplier of haircare and skincare products to Revolution Beauty, manufacturing all products from its UK facility, the company states. During its last financial year ended December 31, Medichem reported pretax profit of GBP1.6 million on revenue of GBP13.4 million. Revolution Beauty expects the purchase to be "significantly earnings enhancing" through enhancing margins, increasing control of its supply chain and improving productivity.

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Redcentric PLC - Harrogate, England-based IT managed services provider - Expects trading for first half ended September 30 to be in line with internal forecasts. Revenue is anticipated to be GBP46.6 million, up slightly from GBP46.2 million a year prior. While earnings before interest, tax, depreciation and amortisation are expected at GBP12.0 million, down marginally from GBP12.3 million a year prior. Notes several electricity supply contracts due for renewal fell during the ongoing UK energy crisis, adding GBP500,000 of costs to the second half of financial year 2022 and at least GBP500,000 of costs to the first half of financial 2023.

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Standard Life UK Smaller Companies Trust PLC - Edinburgh, Scotland-based investment trust - Changes name to abrdn UK Smaller Companies Growth Trust PLC. The change of name was approved by the company's shareholders at the annual general meeting on October 21, with the company on Wednesday receiving approval from Companies House to effect the change.

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By Will Paige; willpaige@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Revolution Beauty Group PLC 120.00 -
Redcentric PLC 124.00 -
Restore PLC 476.00 -
Standard Life UK Smaller Co. Ord 726.01 554

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Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.