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Creightons falls after it reports challenging trading
8th Jul 2020 14:38
(Sharecast News) - Creightons shares fell after the health and beauty product maker delayed its annual results and said trading was challenging.
The maker of Frizz No More shampoo and Argan Body moisturiser also said it saw no reason to explain recent movements in its share price. Creightons shares fell 13.1% to 51.25p at 14:58 BST.
In its first trading update since November the company said it would delay its results for the year to the end of March until 26 August in line with regulatory leeway granted to companies during the Covid-19 crisis. The results would normally have been expected in May.
The company said during the crisis it had launched Pure Touch, a brand of hand sanitisers and hand washes and would soon release an antiviral non-alcohol hand cream. Overall the company's performance is on track, it said.
"Despite pivoting the business with speed, the competitive environment and demands on the supply chain have nevertheless been, and continue to be, challenging," Creightons said. "The company will continue to find the positives where possible to keep moving forward."
Creightons said its board had noticed occasional large fluctuations in its share price in the past few weeks but that it was "not aware of the need to make an announcement in connection with this recent movement". The shares dropped to 30p on 18 March, climbed to 67.5p on 20 May and dropped to 48.5p on 11 June.
The maker of Frizz No More shampoo and Argan Body moisturiser also said it saw no reason to explain recent movements in its share price. Creightons shares fell 13.1% to 51.25p at 14:58 BST.
In its first trading update since November the company said it would delay its results for the year to the end of March until 26 August in line with regulatory leeway granted to companies during the Covid-19 crisis. The results would normally have been expected in May.
The company said during the crisis it had launched Pure Touch, a brand of hand sanitisers and hand washes and would soon release an antiviral non-alcohol hand cream. Overall the company's performance is on track, it said.
"Despite pivoting the business with speed, the competitive environment and demands on the supply chain have nevertheless been, and continue to be, challenging," Creightons said. "The company will continue to find the positives where possible to keep moving forward."
Creightons said its board had noticed occasional large fluctuations in its share price in the past few weeks but that it was "not aware of the need to make an announcement in connection with this recent movement". The shares dropped to 30p on 18 March, climbed to 67.5p on 20 May and dropped to 48.5p on 11 June.