InnovaDerma predicts maiden profit on Dragons' Den-backed Skinny Tan

Jessica Morris
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Made In Chelsea's Lucy Watson is the face of Skinny Tan (Source: Getty)

Shares in ​InnovaDerma soared today after the beauty company said it is on track to book a maiden profit this year.

The firm expects to report revenues of around £4.2m in the year to 30 June, up more than 800 per cent from just £0.5m a year ago. Strong top line growth should enable it to announce a maiden net profit, it added.

"The integration of the Skinny Tan business into the InnovaDerma operations has been completed successfully and the product range has grown strongly," it said.

The company's shares rose as much as 416.7 per cent to 387.50p per share, before closing down to 237.50p giving it a market capitalisation of £24.5m.

Skinny Tan, whose celebrity ambassador is Made In Chelsea's Lucy Watson, is now in all of retail chain Superdrug's 776 stores across the UK.

InnovaDerma bought 80 per cent of Skinny Tan, a fake tan brand which claims to reduce cellulite, in May last year for an undisclosed sum.

The brand previously won investment from two Dragons' Den judges, Piers Linney and Kelly Hoppen, after a pitch which featured bikini-clad models.

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