(Alliance News) - Warpaint London PLC on Friday said it looks forward with "cautious optimism" after its sales dropped sharply year-on-year but were still beyond forecasts.
Ahead of its annual general meeting, the supplier of colour cosmetics said trading conditions remain challenging as a result of the Covid-19 pandemic, with sales in the first half of 2020 at a higher level than anticipated, albeit significantly below the first half of 2019.
Warpaint said there has been an improvement in margin, no erosion of cash and a positive earnings before interest, tax, depreciation and amortization for the first six months of the current year.
"The group has a sound financial footing and we are actively implementing our strategy for growth. We look forward to the remainder of the year with cautious optimism," said Chair Clive Garston.
AIM-listed Warpaint shares were trading 1.0% higher in London on Friday at 66.12 pence each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Warpaint London (W7L)