REG - Warpaint London PLC - AGM Statement

Warpaint LondonAnnouncement

27/06/2022 07:01

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RNS Number : 1854Q  Warpaint London PLC  27 June 2022

27 June 2022

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:

"The Group has experienced strong trading in 2022 to date with the Group's
brands' proposition of delivering high quality cosmetics at affordable prices
resonating with customers, both in the UK and internationally.  Sales for the
six months to 30 June 2022 are anticipated to be in excess of £24 million (H1
2021: £18.4 million), a record level for the Group and ahead of the board's
expectations at the start of the year.

"During the year to date, strong growth in the sales of the Group's branded
products has been achieved in the UK and particularly in continental Europe,
with other regions performing in line with the board's expectations.  Whilst
delivering sales growth, I am also pleased to report that this is being
achieved at improved margins.  Despite inflationary headwinds and continued
high transport costs, the Group's gross profit margin for the year to date has
been in excess of that achieved for the 2021 full year.

"As in previous years, the Group's sales are expected to remain second half
weighted, reflecting Christmas seasonal sales, and with the Group having a
strong current order book, ahead of the level at this time last year, I am
confident that the Group will continue to perform well for the remainder of
the year.

"As previously announced, pending approval by shareholders at today's AGM, a
final dividend of 3.5 pence per share will be paid on 5 July 2022 to
shareholders on the register at 17 June 2022."

This announcement contains inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 which is part of UK law by virtue of the European
Union (Withdrawal) Act 2018

Enquiries

 Warpaint London                                                c/o IFC

 Sam Bazini - Chief Executive Officer

 Eoin Macleod - Managing Director

 Neil Rodol - Chief Financial Officer

 Singer Capital Markets (Nominated Adviser & Joint Broker)      020 7496 3000

 Shaun Dobson, 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

 

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, Very Vegan, and Chit Chat.

 

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