W7L Warpaint London Plc

TIDMW7L

RNS Number : 0105T

Warpaint London PLC

10 November 2023

10 November 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 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 provide an update on current trading.

The Company announced on 20 September 2023, with its results for the six months ended 30 June 2023, that the Group had traded strongly post period end. The Company is pleased to report that the strong trading has continued, with significant growth in all geographic areas, and consequently the results for the year ending 31 December 2023 are now expected to be ahead of market expectations.

Group sales for the year ending 31 December 2023 are now expected to be at least GBP85 million (2022: GBP64.1 million), with the key pre-Christmas sales period for the Group still ongoing. The Group's gross product margin remains robust and continues to be at a level in excess of that achieved in 2022. Profit before tax for the year ending 31 December 2023 is now expected to be in excess of GBP16 million (2022: GBP7.7 million).

The Group's expansion strategy continues, with further scheduled launches in 2023 and 2024 with new major retailers and the expansion of the range of products stocked with certain existing customers. Launches in November 2023 include a range of W7 products in 400 Etos stores in the Netherlands and 100 Watsons stores in the Philippines, together with a range of Technic products being launched in over 200 Wibra stores in the Netherlands. Further expansion is also scheduled with existing retailers, including W7 being stocked in an additional 372 CVS stores in the US and 102 Boots stores in the UK during Q1 2024.

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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

TSTFSAFAUEDSEFF

(END) Dow Jones Newswires

November 10, 2023 02:00 ET (07:00 GMT)

Warpaint London (LSE:W7L)
Gráfica de Acción Histórica
De Abr 2024 a May 2024

Warpaint London (LSE:W7L)
Gráfica de Acción Histórica
De May 2023 a May 2024