The Beauty Tech Group (LSE:TBTG) shares rose 4.1% during Thursday’s session to 484p, having reached a new 52-week high of 490p intraday.
The move follows the company’s first-half results published in September, when it reported a 44.3% increase in revenue to £79.7 million and pre-tax profit of £17.5 million, more than three times the prior-year level.
The Beauty Tech Group also raised its full-year adjusted EBITDA guidance to at least £48.5 million, compared with its previous guidance of £45.0 million.
CurrentBody Launch and Retail Expansion
On September 10, the company launched the CurrentBody Skin Series 3 LED Mask, featuring 750 individually addressable LEDs and its MyDose technology, which is designed to provide personalised treatment protocols.
The group is also pursuing geographic expansion, including plans involving New York and India.
Alongside its interim results, The Beauty Tech Group announced a £20 million share buyback programme. A TR-1 regulatory filing dated September 11 also disclosed a holding by Mercia Fund Management.
The supplied market data indicates that all six analysts covering the company currently have positive ratings on the shares, with an average price target of 512.67p. Analyst ratings and price targets represent forecasts and may change.
At 484p, the shares were more than 125% above their stated 52-week low of 213p.
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