REG - Warpaint London PLC - Trading Update and Notice of Results

Warpaint LondonAnnouncement

24/03/2023 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230324:nRSX0807Ua&default-theme=true

RNS Number : 0807U  Warpaint London PLC  24 March 2023

24 March 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 and Notice of Results

 

Strong trading continues in Q1 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 and confirm the date for release of the Group's results for
the year ended 31 December 2022.

 

The Company announced on 11 January 2023 that following particularly strong
trading in Q4 2022, sales for 2022 had exceeded previous expectations.  The
Company is pleased to report that the strong trading has continued in Q1
2023.  Sales in Q1 2023 are expected to be a record first quarter for the
Group, with sales to 23 March 2023 already in excess of £16 million (Q1 2022:
£13.2 million), with margins continuing to be robust and in line with those
achieved in 2022.  Accordingly, given this strong start to the year, the
outlook for FY 2023 is now expected to be ahead of the board's previous
expectations.

 

The Company continues to have a strong balance sheet with cash balances as at
23 March 2023 totalling £7.6 million (31 December 2022: £5.8 million) and no
debt.

 

Notice of Results

 

The Group expects to release its results for the year ended 31 December 2022
on 26 April 2023.

 

Commenting, Sam Bazini Chief Executive, said: "I am delighted that the strong
performance of the Group seen in 2022 has continued into 2023.  We are
enjoying a strong trading performance across the Group, with sales growth in
many territories and online.  We also continue to enjoy healthy margins.  We
look forward to the remainder of 2023 with confidence and will update further
at the time of the release of the Group's results in April."

 

Note: All figures used in this announcement relating to 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)           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 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.

 

 

 

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 (mailto:rns@lseg.com)
 or visit
www.rns.com (http://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 (https://www.lseg.com/privacy-and-cookie-policy)
.   END  TSTVXLFLXXLXBBX