Warpaint London PLC Trading Update (4581Z)
12 Janeiro 2024 - 4:00AM
UK Regulatory
TIDMW7L
RNS Number : 4581Z
Warpaint London PLC
12 January 2024
12 January 2024
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the Company's obligations under Article 17 of MAR.
Warpaint London PLC
("Warpaint", the "Company" or the "Group")
Trading Update
Strong trading performance continues and results for the year
ending 31 December 2023 now expected to be ahead of market
expectations
Warpaint London plc (AIM: W7L), the specialist supplier of
colour cosmetics and owner of the W7 and Technic brands, is pleased
to announce a trading update for the year ended 31 December
2023.
The Company announced on 10 November 2023 that sales for the
year ending 31 December 2023 were expected to be at least GBP85
million (2022: GBP64.1 million). Following continued strong trading
in Q4 2023, the Company is pleased to report sales for the full
year have exceeded previous expectations and are approximately
GBP89.5 million.
The Group's gross product margin remains robust and continues to
be at a level in excess of that achieved in 2022. Consequently, in
its full year results, the Group expects to report profit before
tax of not less than GBP18 million (2022: GBP7.7 million), which is
ahead of current market expectations and the board's previous
guidance for profit before tax, as outlined in the announcement on
10 November 2023, of in excess of GBP16 million.
The Company continues to have a strong balance sheet with cash
balances as at 31 December 2023 totalling GBP9.0 million (31
December 2022: GBP5.9 million) and no debt.
The Group expects to release its results for the year ended 31
December 2023 in April 2024.
Note: All figures used in this announcement, other than those in
respect of the financial year ended 31 December 2022, remain
subject to audit.
Enquiries:
Warpaint London c/o IFC
Sam Bazini - Chief Executive Officer
Eoin Macleod - Managing Director
Neil Rodol - Chief Financial Officer
Shore Capital (Nominated Adviser & Broker)
Patrick Castle, Daniel Bush - Corporate
Advisory
Fiona Conroy - Corporate Broking 020 7408 4090
IFC Advisory (Financial PR & IR)
Tim Metcalfe, Graham Herring, Florence
Chandler 020 3934 6630
Warpaint London plc
Warpaint sells branded cosmetics under the lead brand names of
W7 and Technic. W7 is sold in the UK primarily to retailers and
internationally to local distributors or retail chains. The Technic
brand is sold in the UK and continental Europe with a significant
focus on the gifting market, principally for high street retailers
and supermarkets. In addition, Warpaint supplies own brand white
label cosmetics produced for several major high street retailers.
The Group also sells cosmetics using its other brand names of
Man'stuff, Body Collection and Chit Chat.
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END
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January 12, 2024 02:00 ET (07:00 GMT)
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