Warpaint London PLC AGM Statement (1854Q)
27 Juni 2022 - 8:00AM
UK Regulatory
TIDMW7L
RNS Number : 1854Q
Warpaint London PLC
27 June 2022
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 GBP24 million (H1 2021:
GBP18.4 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 c/o IFC
Sam Bazini - Chief Executive Officer
Eoin Macleod - Managing Director
Neil Rodol - Chief Financial Officer
Singer Capital Markets (Nominated Adviser
& Joint Broker)
Shaun Dobson, Jen Boorer, Alex Bond - Investment
Banking 020 7496 3000
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
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.
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END
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