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(Alliance News) - Cosmetics firm Warpaint London PLC on Thursday said it is "monitoring" the Covid-19 situation but said the virus outbreak has had a limited impact on sales thus far.
Warpaint said to date there has been "no material issues" with its supply chain, with normal service from its Chinese suppliers resuming to usual production levels.
Warpaint said: "Whilst the company is aware of disruption in the retail environment, particularly in Europe, caused by the restrictions in place, temporary shop closures and changes in shopping behaviour, to date the impact on group sales has been limited.
"However, the company is closely monitoring the evolving impact of the current situation on demand on a country-by-country and retailer-by-retailer basis. Whilst the outbreak will inevitably have a negative impact on the business, given the uncertainty and rapidly evolving government and central bank response, it remains too early to determine the level of impact on the company's results for the current financial year."
Warpaint will release its full-year results on April 22.
Shares in the company were 14% lower at 40.00 pence each in London on Thursday afternoon.
By Eric Cunha; ericcunha@alliancenews.com
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