Warpaint London plc (LON:W7L; OTCQX: WPNTF), the specialist supplier of colour cosmetics and owner of the W7 and Technic brands, has announced that at the Annual General Meeting of the Company to be held at 10 a.m. today, Clive Garston, Chairman of the Company, will make the following statement:
“The Group continues to trade strongly with sales for the six months to 30 June 2024 expected to be approximately £46 million (six months to 30 June 2023: £36.7 million), with margins continuing to be robust and ahead of those achieved in 2023. Consistent with previous years, due to Christmas gifting orders and the Group’s momentum, sales are expected to again be second half weighted.
“Further progress continues to be made with expanding the Group’s presence in larger retailers globally and the Group has significant further opportunities to grow sales, both with new and existing customers. The Group has a number of planned product roll outs to additional stores in the second half of the year and remains in active discussions with a number of UK and overseas retailers about stocking the Group’s products.
“As previously announced, pending approval by shareholders at today’s AGM, a final dividend of 6.0 pence per share will be paid on 5 July 2024 to shareholders on the register at 14 June 2024.”
Note: All figures used in this announcement are unaudited.
Warpaint London sells branded cosmetics under the lead brands of W7 and Technic. W7 is sold in the UK primarily to major 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 also sells cosmetics under its other brand names of Man’stuff, Body Collection and Chit Chat, each targeting a different demographic.
