Beauty Tech shares glow as boss brushes off ‘cheap’ rivals
Beauty Tech Group boss Laurence Newman has brushed off competition from ‘cheap beauty devices’ after the London-listed firm more than tripled its first-half profit.
Shares in the owner of Currentbody Skin rose more than 13 per cent to 395p on Thursday after revenue climbed 44.3 per cent to £79.7m in the six months to June. Its pre-tax profit rose from £5m to £17.5m, while gross profit increased 52.8 per cent to £51.3m.
The Manchester-founded group sells at-home beauty devices through Currentbody Skin, ZIIP Beauty and Tria Laser, with its latest LED face mask priced at around £500.
Speaking to City AM, Newman said the growing number of cheaper alternatives had not put pressure on demand. He explained: “Women tend not to want to put a £20 device on their face”.
Around 85 per cent of customers search for the company’s brands before buying, Newman said.
“No one’s actually comparing products here”, he said. “They’re not saying, ‘I want a CurrentBody or should I buy one for £25?’ That’s not how people are shopping”.
Newman also said the group had seen little evidence of customers cutting back as household budgets remain under pressure. “It’s price inelastic”, he said.
“Even at £400 to £500, if you compare it to clinic treatments, if you compare it to people having their hair done… it’s a thought-out purchase, but it’s not one that’s going to worry people on price”.
The third generation of CurrentBody’s LED mask is around £100 more expensive than its predecessor, although Newman suggested prices were unlikely to move much higher. “Series three is at £500. I think that’s probably where we’re at”, he added.
Beauty tech lifts profit outlook
Beauty Tech maintained its full-year revenue guidance of at least £170m on Thursday while raising its profit expectations.
Newman said the group had been “a little bit cautious” on revenue ahead of the launch of its third-generation LED range, which has been in development for two years.
The company also unveiled a £20m share buyback after ending June with £52m in cash and no debt. “I don’t think there’s a better use of funds than a buyback at this moment in time. Simple as that”, Newman told City AM.
The group is not actively looking for acquisitions, with Newman saying it already had its “work cut out” delivering its existing growth plans.
Beauty Tech floated in London in October 2025 at a valuation of around £300m, raising roughly £29m and clearing its external debt. Its recent growth has been driven largely by first-time buyers.
“It’s almost entirely people buying new – new customers that we go after”, Newman said. “This is not a repeat business. We’re a tech hardware company”.
However, 40 per cent of customers who bought a device two years ago have since bought another, the company said.
Newman also welcomed the arrival of larger competitors into beauty tech. Shark’s entry into LED masks increased searches for the products by around 30 per cent, he said. “Then there’s a conversation: Shark versus CurrentBody”, Newman said. “Can only be a good thing”.
Beauty technology accounts for around one per cent of beauty spending in the group’s main markets, the company said.
Newman rejected concerns that the recent popularity of LED masks could prove short-lived, pointing to the longstanding use of LED, microcurrent, laser and radio frequency technology in clinics. “They’ve been in clinics for the last 60 years. They’re not going anywhere”, he said. “There’s no fad element. There’s no trend element”.
Beauty Tech plans to open its own laboratory in early 2027 and is working with the University of Manchester on research into the effects of LED treatment on skin.
The group is also expanding its hair category, which Newman said generated around £15m in sales over the past year with little marketing spend.