20th Nov 2019 10:59
(Alliance News) - Shares in Brand Architekts Group PLC dropped Wednesday as it said tough market conditions in the UK and International segments will drag first half trading.
Shares in the Teddington-based personal care and beauty products group were down 7.3% at 169.25 pence on Wednesday in London.
Brand Architekts said at its annual general meeting UK conditions have remained difficult, and international sales were affected by increased tariffs on China-sourced products in the US.
This is expected to cause a drag on the company's first half of its current financial year ending June 2020.
However, UK and International sales are expected to return to growth in the second half of the year, underpinned by the development of new products, improved UK distribution of key brands, and more of a focus on its brand business, the firm said.
"Whilst we anticipate ongoing economic and consumer uncertainty will continue into the new calendar year, the group's specialist focus, excellent operations team and strong retail customer relationships mean that we are well placed to navigate and grow in this market. As a result, the board expects to deliver positive progress for the full year," said Executive Chair Brendan Hynes.
By Dayo Laniyan; [email protected]
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