# Warpaint London reports Strong Trading and Record Q1 Sales

- Link: https://www.directorstalkinterviews.com/warpaint-london-reports-strong-trading-and-record-q1-sales/4121150810
- Published: 2024-04-09T07:20:04+01:00
- Author: Amilia Stone

**Warpaint London plc **(LON:W7L), the specialist supplier of colour cosmetics and
owner of the W7 and Technic brands, has provided an update on current trading and
confirm the date for release of the Group’s results for the year ended 31 December
2023.

The Company announced on 12 January 2024 that following continued strong trading
in Q4 2023, sales and profit before tax for 2023 had exceeded previous expectations.
The Company is pleased to report that the strong trading has continued in Q1 2024.
Sales in Q1 2024 are a record first quarter for the Group, with sales to 31 March
2024 of approximately £23.5 million, 28% ahead of the same period in 2023 (Q1 2023:
£18.4 million), with margins continuing to be robust and ahead of those achieved
in 2023.  Accordingly, given this strong start to the year, the outlook for FY 2024
is now expected to be ahead of the market’s current expectations.

The Company continues to have a strong balance sheet, with no debt.  Cash balances
as at 2 April 2024 totalled £7.5 million after investment in a significant increase
in stock to satisfy expected demand later in the year (31 March 2023: £8.5 million).

**Notice of Results**

Warpaint London expects to release its results for the year ended 31 December 2023
on 24 April 2024.

_Note: All figures used in this announcement relating to the financial year ended
31 December 2023 remain subject to audit._

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