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Brand Architekts Group PLC on Tuesday said its financial year was "turbulent and testing" as it faced the ongoing impact of Covid-19-related supply chain issues, changing buying patterns, and labour inflation.
In the year ended June 30, the cosmetics firm widened its pretax loss to £4.1 million from £1.9 million the previous year.
Revenue dipped to £14.3 million, falling 9.9% year-on-year from £15.9 million. The firm blamed the drop on a "challenging external environment" and the impact of reduced consumer confidence on demand.
In addition, the Teddington, England-based company said its underlying gross profit margin weakened to 33.5% from 36.9%.
"This reflects a wide range of cost pressures felt throughout our supply chain, that we could not pass onto retailers due to previously agreed pricing commitments," Brand Architekts explained.
Looking ahead, the company said it remains confident in its long-term strategy, though it admitted that the future is currently difficult to predict.
"The past few years have not been easy, but new product development continues at pace, and we have diversified products, channels and markets which stand us in good stead. This gives us confidence for our future and in our ability to deliver value for our shareholders," Chief Executive Quentin Higham said.
Shares in Brand Architekts were down 14% at 27.00 pence at midday on Tuesday in London.
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