Beauty Tech Group reported a significant rise in its first-half financial results, driven by strong demand for at-home beauty devices. The London-listed company noted a more than threefold increase in pre-tax profit to £17.5 million for the six months ending June 30, up from £5 million in the same period the previous year. Revenue rose 44.3% to a record £79.7 million, while gross profit increased by 52.8% to £51.3 million.
Founded in Manchester and listed on the London Stock Exchange in October of the previous year, Beauty Tech Group owns brands including CurrentBody Skin, ZIIP Beauty, and Tria Laser. Most of the group's revenue was attributed to CurrentBody Skin, which generated £71.1 million during the first half, up from £49.1 million a year earlier. ZIIP Beauty sales grew by 25.7% to £7 million, and Tria Laser contributed £1.6 million in revenue.
The company’s products focus on bringing treatments traditionally offered in beauty clinics into the home environment. Among its best-known offerings are LED face masks from CurrentBody Skin that utilize various wavelengths of light in skincare treatments, targeting concerns such as wrinkles and skin rejuvenation. Other devices include lasers for hair removal and electrical stimulation tools designed to treat acne and other skin issues.
Laurence Newman, co-founder and chief executive of Beauty Tech Group, described the business as continuing to gain momentum, particularly entering what the company views as a "seasonally stronger" second half of the year. Newman, who founded the company along with Andrew Showman in 2009, highlighted the rapid growth of the at-home beauty technology segment, which remains a relatively new but expanding component of the wider beauty industry. Estimates place the global at-home beauty device market’s value between £9 billion and £12 billion.
Following the strong half-year performance, the company raised its full-year adjusted profit guidance to a minimum of £48.5 million, marking the fifth upward revision since its initial public offering. It also reaffirmed expectations for annual revenues of at least £170 million, remaining confident in its growth trajectory supported by a planned pipeline of product launches.
Beauty Tech Group’s profiles have been boosted by endorsements from high-profile users including media personality Kim Kardashian and professional tennis player Serena Williams. The company’s shares responded positively to the performance update, closing at 392p — a 12% increase — which values the firm at approximately £416 million, up from its initial flotation price of 271p last October.