6
February 2025
Warpaint London
PLC
("Warpaint", the "Company" or the "Group")
Trading
Update
Strong trading performance
for the year ending 31 December 2024 and a positive start to
2025
Warpaint London plc
(AIM: W7L; OTCQX:
WPNTF), the
specialist supplier of colour cosmetics and owner of the W7 and
Technic brands is pleased to provide a
trading update for the year ended 31
December 2024.
Revenue for the year ended 31
December 2024 is expected to be approximately £102 million (2023:
£89.6 million) and profit before tax to be approximately £24
million (2023: £18.1 million).
The strong trading performance has
continued into January 2025, with revenue approximately 15% ahead of January
2024, at an improved margin.
The Company expects to release its
results for the year ended 31 December 2024 in late April
2025.
Commenting, Sam Bazini, Chief Executive Officer of Warpaint,
said: "I am pleased with the Group's performance in 2024 and the
strong start to 2025, despite ongoing consumer spending headwinds.
It was also pleasing that improved margins were maintained
throughout the year.
"We expect to see continued growth across the Group in 2025
and we look forward to completing the acquisition of Brand
Architekts later this month and integrating the business into the
Group."
Note: All figures used in this
announcement, other than those in respect of the financial year
ended 31 December 2023, remain subject to audit.
Enquiries:
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Warpaint London
Sam Bazini - Chief Executive
Officer
Eoin Macleod - Managing
Director
Neil Rodol - Chief Financial
Officer
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c/o IFC
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Shore Capital (Nominated Adviser &
Broker)
Patrick Castle, Daniel Bush -
Corporate Advisory
Fiona Conroy - Corporate
Broking
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020 7408 4090
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IFC
Advisory (Financial PR & IR)
Tim Metcalfe, Graham Herring,
Florence Chandler
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020 3934 6630
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Warpaint London plc
Warpaint sells branded cosmetics
under the lead brand names 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 supplies cosmetics under
its other brand names of Man'stuff, Body Collection and Chit Chat,
each targeting a different demographic.
Appendix: Profit forecasts
Warpaint London plc Profit Estimate for FY
2024
1.1. The guidance in
relation to FY 2024 included in this announcement constitutes an
ordinary course profit estimate ("FY 2024 Profit Estimate") for the
purposes of the City Code on Takeovers and Mergers (the
"Code"):
1.2. Basis of preparation
The basis of accounting used for the
FY 2024 Profit Estimate is consistent with the Group's existing
accounting policies, which are in accordance with UK-adopted
International Accounting Standards and in accordance with the
Companies Act 2006 and the accounting policies which were applied
in the preparation of the Group's financial statements for the year
ended 31 December 2023.
Although the financial period to
which the FY 2024 Profit Estimate relates has been completed, the
Company's audited accounts for the year ended 31 December 2024 are
not available as at the date of this trading update. Accordingly,
the FY 2024 Profit Estimate is based on the Company's unaudited
interim results for the six months ended 30 June 2024 and the
Company's unaudited management accounts for the six months ended 31
December 2024.
1.3. Principal assumptions
1.4. In confirming the FY 2024
Profit Estimate remains valid, the directors of Warpaint have made
the following principal assumptions in respect of the financial
year ending 31 December 2024:
Factors outside the influence or control of the
Company
• there will be no
retrospective change in legislation or regulatory requirements that
will have a material impact on the Company's operations.
Factors both outside and within the influence or control of
the Company
• no events will
arise between the date of this trading update and the date on which
the Company announces its audited results for the financial year
ended 31 December 2024, which would require incorporation in the FY
2024 results in accordance with UK-adopted International Accounting
Standards and/or the Company's accounting policies.
1.5. Directors' confirmation
The Directors confirm that the FY
2024 Profit Estimate remains valid and that it has been properly
compiled on the basis of the principal assumptions stated above and
that the basis of accounting used is consistent with Warpaint's
accounting policies set out above.
