Revolution Beauty has revealed it cut more than 80 jobs since March, as it blamed deepening losses on its previous management.

The beauty retail business is undergoing a major turnaround programme under the leadership of its founders, who returned to the group earlier this year.

Revolution Beauty said its performance under previous management over the half-year to August 31 was “worse than expected”.

It warned that sales and adjusted earnings for the full-year will therefore “not match” the guidance it gave in a previous update in August.

The brand told shareholders that revenues tumbled by 31.8% to £49.4 million for the latest half-year.

It said this was driven by “disruption carried over from prior-year strategic and operational issues”.

It added that efforts by previous bosses to

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