Warpaint London PLC UK Retail Expansion & Trading Update (1279C)
06 Febrero 2020 - 1:00AM
UK Regulatory
TIDMW7L
RNS Number : 1279C
Warpaint London PLC
06 February 2020
6 February 2020
Warpaint London PLC
("Warpaint", the "Company" or the "Group")
Leading UK Supermarket Group to Stock W7 Products
Trading Update
Appointment of Strategy Consultant
Warpaint London plc (AIM: W7L), the specialist supplier of
colour cosmetics and owner of the W7 and Technic brands, is pleased
to provide a trading update in respect of the financial year ended
31 December 2019, together with details of certain corporate
initiatives.
UK Retail Expansion
The Company is pleased to announce a new collaboration with a
leading UK supermarket group to sell a core range of over 100 of
the Group's W7 branded products, in over 50 stores across the UK.
W7 products will be displayed in bespoke free-standing display
units located in the store's cosmetics aisles.
The sale of the Group's W7 branded products through this leading
UK supermarket group represents a significant step forward in the
Company's strategy to grow its UK market share through sales from
new retail outlets for the Group. The Company is in detailed
discussions with a number of other large UK retailers to stock the
Group's products.
Trading Update
Subject to audit, the Company expects to report revenue of
GBP49.3 million and adjusted profit before tax (excluding
amortisation in connection with acquisitions, share incentive
scheme costs and exceptional items, which the board expects to
total approximately GBP2.8 million) of GBP5.2 million for the year
ended 31 December 2019, in line with the guidance provided in the
Company's trading update on 20 December 2019.
The Company expects to report its audited results for the year
ended 31 December 2019 during the week commencing 20 April
2020.
Appointment of Strategy Consultant
The Company is pleased to announce that Ward & Hagon
Management Consulting LLP ("Ward & Hagon") has been appointed
to provide additional strategic resource and to assist the Company
in implementing its strategic growth plans. Ward & Hagon will
have a particular focus on assisting the Group to access new retail
channels with a view to growing its UK market share and developing
its business in the USA.
Paul Hagon, a Non-executive Director of Warpaint, is a partner
of Ward & Hagon. As part of Ward & Hagon's appointment, Mr
Hagon will fulfil the role of Interim Strategy and Business
Development Director and his Ward & Hagon partner, Martyn Ward,
will fulfil the role of Interim Commercial and Transformation
Director, both non-board roles and for an initial period of one
year. Mr Hagon and Mr Ward are both experienced executives in the
retail and wholesale sectors, working with major branded suppliers
to develop and deliver business plans, together with appropriate
sales and marketing strategies.
Commenting, Clive Garston, Chairman of Warpaint, said: "We are
delighted that the Group's products are going to be stocked by a
leading UK supermarket group and we look forward to both developing
our relationship with them and to seeking further new relationships
with other large retailers, both in the UK and Internationally.
"I am also pleased that the Group will be able to benefit
further from Paul Hagon's skills and we look forward to the
assistance Ward & Hagon can provide as we seek to grow the
Warpaint business."
Enquiries:
Warpaint London c/o IFC
Sam Bazini - Chief Executive Officer
Eoin Macleod - Managing Director
Neil Rodol - Chief Financial Officer
Shore Capital (Nominated Adviser and Joint
Broker)
Antonio Bossi - Corporate Advisory
Daniel Bush - Corporate Advisory
Fiona Conroy - Corporate Broking 020 7408 4090
N+1 Singer (Joint Broker)
Shaun Dobson - Corporate Finance
Alex Bond - Corporate Finance 020 7496 3000
IFC Advisory (Financial PR & IR)
Tim Metcalfe
Graham Herring
Florence Chandler 020 3934 6630
Warpaint London plc
Warpaint London plc is made up of two divisions.
The largest division sells cosmetics under the lead brand names
of W7 and Technic. W7 is sold in the UK primarily to discount
retailers and internationally to local distributors or retail
chains. The Technic brand is sold in the UK and the rest of Europe
with a significant focus on the gifting market, principally for
high street retailers and supermarkets. In addition, this division
supplies white label cosmetics produced for several major high
street retailers. The Group also sells cosmetics using the smaller
brand names of Man'stuff, Body Collection, Vintage, Outdoor Girl,
Very Vegan, Chit Chat, Smooch, Copy Cat and Taxi.
The second division trades in close-out and excess stock of
other branded cosmetics and fragrances from around the world.
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END
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