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

Warpaint LondonAnnouncement

06/08/2019 07:05

RNS Number : 9681H
Warpaint London PLC
06 August 2019
 


6 August 2019
Warpaint London plc
("Warpaint London" or the "Company" or the "Group")
Trading Update and Notice of Results
 
Warpaint London plc (AIM: W7L), the specialist supplier of colour cosmetics and owner of the W7 and Technic brands, provides a trading update for the current financial year.
As reported at the time of the Company's AGM in May 2019, whilst trading conditions remain challenging in the UK, the Company continues to see encouraging international sales growth, in particular in the EU and the US.  The Board anticipates that Group sales for the financial year to 31 December 2019 will be approximately £50 million.
However, a number of factors including the geographic mix of sales, adverse exchange rate movements and the Group's investment in its strategy for future growth, particularly in the US, are having an impact on profitability in the current financial year.  Consequently, the Company's board currently expects adjusted profit before tax for the year ending 31 December 2019 (excluding amortisation in connection with acquisitions, share incentive scheme costs and exceptional items, which the board expects to total approximately £2.8 million) will be in the range of £6 million to £7 million.
The Group continues to have a robust balance sheet and to actively implement its strategy for growth.
A further update on current trading will be provided at the time of release of the Company's interim results for the six months to 30 June 2019, which will be announced on 18 September 2019.
 
Enquiries:




Warpaint London
Sam Bazini - Joint Chief Executive Officer
Eoin Macleod - Joint Chief Executive Officer
Neil Rodol - Chief Financial Officer


c/o IFC
 




 
Shore Capital (Nominated Adviser and Broker)
Antonio Bossi - Corporate Finance
Fiona Conroy - Corporate Broking


 
020 7408 4090




 
IFC Advisory (Financial PR & IR)
Tim Metcalfe
Heather Armstrong
Florence Chandler


 
020 3934 6630
 




  
Warpaint London plc
 
Warpaint London is a colour cosmetics business, based in Iver, Buckinghamshire. It is made up of two divisions: own brand and close-out.  The larger own brand division primarily consists of the Group's flagship brand, W7, together with the Technic, Body Collection and Man'stuff brands acquired through the acquisition of Retra Holdings in 2017.
 
 




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