Beauty brands outfit The Core Business plans to introduce 'Black Up' ethnic cosmetics into Britain after losing an annual �133,354.

Chaired by entrepreneurial ex-stockbroker Mark Watson-Mitchell, AIM-quoted Core turned an �87,000 pre-tax profit into a �133,354 pre-tax loss in the year to May. Turnover fell 9.6 per cent to �122,157 and administration costs surged from �35,000 to �195,540.

Primrose Hill-based Core, which raised a net �235,000 with an AIM float placing at 4p in March, devoted the past year to a variety of consultancy projects. These included preparing the UK launch for Black Up, developing a marketing strategy for the Sleek International cosmetics brand, the launch of professional hair care products for Racoon International, and the re-launch of the Manicare nail treatment and beauty accessory brand.

Run by founder and chief executive Stirling Murray, Core ended its financial year in May with cash and 'near cash' of �401,000. Chairman Watson-Mitchell claims a 'heightening of the company's corporate profile has boosted the number of companies seeking its help in extending their own brands.'

He adds that the current financial year 'is already showing enough progress to give the board confidence in predicting a beneficial outcome to end-May 2007.' At 4.13p the shares are for gamblers only.