Warpaint London PLC AGM Statement (5605B)
11 Junio 2021 - 01:00AM
UK Regulatory
TIDMW7L
RNS Number : 5605B
Warpaint London PLC
11 June 2021
11 June 2021
Warpaint London PLC
("Warpaint", the "Company" or the "Group")
AGM Statement
Warpaint London plc (AIM: W7L), the specialist supplier of
colour cosmetics and owner of the W7 and Technic brands , announces
that at the Annual General Meeting ("AGM") of the Company to be
held at 10 a.m. today, Clive Garston, Chairman of the Company, will
make the following statement:
"Trading in the year to date has been encouraging and we are
particularly pleased with the performance in the UK where sales of
our brands for the first five months of the year are up 64%
compared to the same period in 2020 and up 18% compared to the same
period in 2019, one not impacted by the Covid-19 pandemic. The
growth in W7 UK sales has been assisted by our roll out into Tesco.
In June 2020 the Group's W7 products were in 56 Tesco stores, today
they are in over 1,300 across the various store formats, with a
further expansion of the W7 full cosmetic displays in Tesco planned
for later this year. The Group's other brands are also performing
well in the UK.
"We are also seeing encouraging growth elsewhere. In the US, for
example, we have recently completed a trial launch of W7 products
in 50 Francesca's stores where sales have exceeded expectations and
we anticipate rolling out product across a significant portion of
their 444 store estate later this year.
"E-commerce sales of W7 products across all markets for the
first five months of the year were approximately three times the
level in the same period in 2020 and we anticipate further
significant growth, albeit from a modest base.
"As previously announced, pending approval by shareholders at
today's AGM, a final dividend of 3.0 pence per share will be paid
on 5 July 2021 to shareholders on the register at 18 June 2021.
"I am optimistic that these positive trends will continue and
with cash today of approximately GBP6.6 million and no debt, I
believe we are well placed to deliver profitable future
growth."
Enquiries:
Warpaint London c/o IFC
Sam Bazini - Chief Executive Officer
Eoin Macleod - Managing Director
Neil Rodol - Chief Financial Officer
N+1 Singer (Nominated Adviser & Joint
Broker) 020 7496 3000
Shaun Dobson, Tom Salvesen, Jen Boorer,
Alex Bond - Investment Banking
Shore Capital (Joint Broker) 020 7408 4090
Patrick Castle, Daniel Bush - Corporate
Advisory
Fiona Conroy - Corporate Broking
IFC Advisory (Financial PR & IR) 020 3934 6630
Tim Metcalfe
Graham Herring
Florence Chandler
Warpaint London plc
Warpaint is made up of two divisions.
The largest division 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, this division
supplies own brand white label cosmetics produced for several major
high street retailers. The Group also sells cosmetics using our
other own brand names of Man'stuff, Body Collection, Vintage, Very
Vegan, and Chit Chat.
The other division trades in close-out and excess inventory of
branded cosmetics and fragrances from around the world.
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END
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June 11, 2021 02:00 ET (06:00 GMT)
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