Last checked at 27 Jun 2022 07:00
27 June 2022
Warpaint London PLC
("Warpaint", the "Company" or the "Group")
AGM Statement
Warpaint London plc (AIM: W7L), the specialist supplier of colour cosmetics and owner of the W7 and Technic brands, announces that at the Annual General Meeting ("AGM") of the Company to be held at 10 a.m. today, Clive Garston, Chairman of the Company, will make the following statement:
"The Group has experienced strong trading in 2022 to date with the Group's brands' proposition of delivering high quality cosmetics at affordable prices resonating with customers, both in the UK and internationally. Sales for the six months to 30 June 2022 are anticipated to be in excess of £24 million (H1 2021: £18.4 million), a record level for the Group and ahead of the board's expectations at the start of the year.
"During the year to date, strong growth in the sales of the Group's branded products has been achieved in the UK and particularly in continental Europe, with other regions performing in line with the board's expectations. Whilst delivering sales growth, I am also pleased to report that this is being achieved at improved margins. Despite inflationary headwinds and continued high transport costs, the Group's gross profit margin for the year to date has been in excess of that achieved for the 2021 full year.
"As in previous years, the Group's sales are expected to remain second half weighted, reflecting Christmas seasonal sales, and with the Group having a strong current order book, ahead of the level at this time last year, I am confident that the Group will continue to perform well for the remainder of the year.
"As previously announced, pending approval by shareholders at today's AGM, a final dividend of 3.5 pence per share will be paid on 5 July 2022 to shareholders on the register at 17 June 2022."
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018
Enquiries
Warpaint London Sam Bazini - Chief Executive Officer Eoin Macleod - Managing Director Neil Rodol - Chief Financial Officer
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Singer Capital Markets (Nominated Adviser & Joint Broker) Shaun Dobson, Jen Boorer, Alex Bond - Investment Banking | 020 7496 3000
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Shore Capital (Joint Broker) Patrick Castle, Daniel Bush - Corporate Advisory Fiona Conroy - Corporate Broking
| 020 7408 4090 |
IFC Advisory (Financial PR & IR) Tim Metcalfe, Graham Herring, Florence Chandler | 020 3934 6630
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Warpaint London
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.