LONDON (Alliance News) - Colour cosmetics firm Warpaint London PLC on Wednesday reported a rise in both profit and revenue for 2017, though its total dividend was lower than in 2016.
On a pro forma basis, revenue increased by 16% to GBP31.2 million, and on a reported basis the figure increased to GBP32.5 million from GBP22.5 million.
Pretax profit climbed to GBP6.9 million from GBP4.4 million, and on a pro forma basis, adjusted pretax profit increased 10% to GBP7.5 million.
Warpaint is paying a final dividend of 2.6 pence per share, taking its total to 4.0p, lower than the 5.80p returned to shareholders in 2016.
The year was Warpaint's first full calendar year as a listed company, having originally floated in London in November 2016. In November 2017 it bought Retra Holdings Ltd for GBP18.2 million, and the pro forma revenue figure has been given to reflect this.
Warpaint said it was a year of "significant growth and achievement", and it added the effect of the dollar exchange rate on its results "cannot be overemphasised".
Had the dollar remained at 2016 levels, Warpaint's margin would have been 2.9% higher, and thus earnings would have risen, it said. Its pro forma adjusted operating margin in 2017 was 24.4%, compared to 25.2% in 2016.
Looking ahead, Warpaint said it views the future "with considerable optimism". It has had a good start to 2018, and Retra has been well integrated. The firm's overall outlook remains positive.
Warpaint shares were up 1.6% on Wednesday at 192.96p each.
Warpaint London (W7L)