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Revolution Beauty to suspend stock trading on accounting concerns

Published 08/19/2022, 10:02 AM
Updated 08/19/2022, 10:05 AM
© Reuters. FILE PHOTO: A woman poses with a smartphone showing the Boohoo app in front of the Boohoo logo on display in this illustration taken September 30, 2020. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) - Revolution Beauty Group said on Friday trading in its shares will be suspended from Sept. 1 as the beauty products maker does not expect to release its 2022 results by Aug. 31 after auditors flagged accounting issues.

© Reuters. FILE PHOTO: A woman poses with a smartphone showing the Boohoo app in front of the Boohoo logo on display in this illustration taken September 30, 2020. REUTERS/Dado Ruvic/Illustration/File Photo

The news comes days after British online fashion retailer Boohoo acquired a nearly 13% stake in Revolution Beauty Group, making it the third-largest shareholder.

Shares in Revolution Beauty Group plunged 41% to 15.5 pence.

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