Revolution Beauty shares jump as FCA closes probe

(Sharecast News) - Revolution Beauty said on Friday that the Financial Conduct Authority had closed its investigation into the company and would take no further action against it or its founders. The AIM-traded beauty group said on Friday that it had been notified by the FCA that the investigation, which began on 21 July 2023, had ceased.

The probe had also covered founders Adam Minto and Tom Allsworth, who were informed in November 2024 that the regulator had discontinued its investigation into them and did not intend to take any action.

The FCA had now confirmed that the remaining investigation into the company itself was closed.

Chairman Iain McDonald said Revolution Beauty had cooperated fully with the FCA over the last three years and had responded constructively to the regulator's comments by implementing a wider range of governance and best-practice measures.

"We are pleased to report that the FCA has ceased its investigation into Revolution Beauty Group and that no action will be taken against the company or its founders," McDonald said.

He added that the update came as Minto and Allsworth were back involved in the business and had "reinvigorated it with a clear strategy".

"The early signs that this strategy is working are very encouraging, and the future is much brighter for the Revolution brand," McDonald said.

At 0936 BST, shares in Revolution Beauty Group were up 16.28% at 5p.

Reporting by Josh White for Sharecast.com.

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