Revolution Beauty provided the briefest of trading updates Thursday morning ahead of a Capital Markets Event for its institutional investors and analysts. And the mass beauty retailer will tell them of its ambitions to accelerate profitable growth and deliver retail brand sales of £1 billion by 2030.

And for now, the good news is it still expects to deliver adjusted EBITDA up not less than double-digits and high-single-digit revenue growth for the 2024 financial year.

It reiterated the group has managed to accelerate the rationalisation of lower margin SKUs, “successfully driving margin improvement”.

As a result of this “greater focus”, FY24 adjusted EBITDA is now expected to range from £11 million-£12 million, and revenue growth is expected to be in the low-single-digits.

For good measure, the group has also signed a 12-month extension to its £32 million Revolving Credit Facility that will now run until October 2025, on unchanged terms.

The investor event, hosted by CEO Lauren Brindley, CFO Neil Catto, CMO Alison Hollingsworth, and COO Stephen Vanoli, “will outline management’s plans to transform the business and accelerate growth, with an ambition to drive annual retail brand sales of £1 billion by 2030, establishing Revolution Beauty as a top-five mass beauty player globally”.

Brindley, added: “Revolution Beauty is a business with unique capabilities, a loyal Gen Z customer base and relationships with some of the world’s best beauty retailers. The strategy that we’re setting out today is about harnessing our strengths and taking the brand back to its roots. We want to build on what we’re best known for – our innovation, speed to market, accessibility and inclusivity.

“By focusing on our Revolution Masterbrand, building smarter operations, maintaining financial discipline and energising our teams, we believe we will deliver long-term profitable growth.”