Warpaint London PLC Trading Update (7681C)
15 Junio 2023 - 1:00AM
UK Regulatory
TIDMW7L
RNS Number : 7681C
Warpaint London PLC
15 June 2023
15 June 2023
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 continues in Q2 2023
Warpaint London plc (AIM: W7L), the specialist supplier of
colour cosmetics and owner of the W7 and Technic brands, is pleased
to provide an update on current trading.
The Company announced on 26 April 2023, with its results for the
year ended 31 December 2022, that the Group had traded strongly in
Q1 2023. The Company is pleased to report that the strong trading
has continued in Q2 2023.
Sales for the five months to 31 May 2023 were 45% ahead of the
same period last year, at GBP29.7 million (five months to 31 May
2022: GBP20.5 million), with margins continuing to be robust and
ahead of those achieved in 2022. Accordingly, driven by the
continued strong start to the year, the Board now expects that the
Group's full year 2023 performance will be significantly ahead of
its prior expectations.
The Company continues to be cash generative and maintains a
strong balance sheet with cash balances as at 31 May 2023 totalling
GBP7.5 million (31 May 2022: GBP2.7 million; 31 December 2022:
GBP5.8 million) and no debt.
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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June 15, 2023 02:00 ET (06:00 GMT)
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