Warpaint London PLC Trading Update (9940Q)
November 02 2021 - 2:00AM
UK Regulatory
TIDMW7L
RNS Number : 9940Q
Warpaint London PLC
02 November 2021
2 November 2021
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the Company's obligations under Article 17 of MAR.
Warpaint London PLC
("Warpaint", the "Company" or the "Group")
Trading Update
Warpaint London plc (AIM: W7L), the specialist supplier of
colour cosmetics and owner of the W7 and Technic brands is pleased
to announce an update on current trading.
Following a continuation of the improving trends seen in the
first half of the year, and outlined in the Company's interim
results announcement on 22 September 2021, the Company now expects
its results for the year ending 31 December 2021 to be ahead of
market expectations.
Sales for the year ending 31 December 2021 are now expected to
be similar to those achieved in 2019 (2020: GBP40.3 million, 2019:
GBP49.3 million), the most recent financial year that experienced
no impact from the Covid-19 pandemic. This has been driven by
growth both from existing customers and those new to the Group, and
is despite continuing Covid-19 related disruption in 2021,
particularly with government imposed lockdowns in the early part of
the year.
Gross margins are currently being maintained ahead of those
achieved in 2020 and 2019 (2020: 31.1%, 2019: 33.5%), despite some
increased costs in the supply chain, particularly with freight. The
Company therefore anticipates that the Group's Adjusted EBITDA*
(2020: GBP4.2 million, 2019: GBP7.0 million) and Adjusted Profit
Before Tax** (2020: GBP2.3 million, 2019: GBP5.2 million) for the
year ending 31 December 2021 will be ahead of 2019 and current
market expectations, and the performance delivered in 2020.
The previously declared interim dividend of 2.5p per share will
be paid on 26 November 2021 to shareholders on the register at 12
November 2021. The shares will go ex-dividend on 11 November
2021.
* Adjusted for foreign exchange movements, share based payments
and exceptional items.
** Adjusted for exceptional costs, amortisation of intangible
assets, and share based payments. Adjusted numbers are close to the
underlying cash flow performance of the business which is regularly
monitored and measured by management.
Commenting, Sam Bazini Chief Executive, said: "I am pleased to
report that the encouraging trends experienced in the first half of
2021 have continued. We are continuing to see particularly strong
growth in the UK, significant growth elsewhere internationally and
further increases in online sales.
"In line with our stated strategy, we have significant
opportunities for further growth, both with our existing retailers,
those such as Boots where we are expecting to launch soon, and with
others that we are in discussions with. I look forward to the
remainder of the year and into 2022 with a high degree of
confidence."
Enquiries:
Warpaint London c/o IFC
Sam Bazini - Chief Executive Officer
Eoin Macleod - Managing Director
Neil Rodol - Chief Finance Officer
Singer Capital Markets (Nominated Adviser & Joint
Broker) 020 7496 3000
Shaun Dobson, Tom Salvesen, Jen Boorer, Alex
Bond - Investment Banking
Shore Capital (Joint Broker) 020 7408 4090
Patrick Castle, Daniel Bush - Corporate Advisory
Fiona Conroy - Corporate Broking
IFC Advisory (Financial PR & IR) 020 3934 6630
Tim Metcalfe
Graham Herring
Florence Chandler
Warpaint London plc
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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
TSTFSLEFFEFSELF
(END) Dow Jones Newswires
November 02, 2021 03:00 ET (07:00 GMT)
Warpaint London (LSE:W7L)
Historical Stock Chart
From Apr 2024 to May 2024
Warpaint London (LSE:W7L)
Historical Stock Chart
From May 2023 to May 2024