Warpaint London PLC on Friday said it has continued to trade strongly in the second half of 2023, so its annual results will be ahead of market expectations.
Buckinghamshire, England-based Warpaint is a supplier of colour cosmetics and the owner of the W7 and Technic brands.
Sales in 2023 now are expected to be at least £85 million, up 33% from £64.1 million in 2022, though Warpaint noted that the key pre-Christmas sales period is still taking place.
Gross product margin remains above 2022, when it was 36.4%, up from 33.8% in 2021.
As a result, pretax profit for 2023 is expected to be above £16 million, more than doubled from £7.7 million the year before.
Warpaint said it has continued to launch its products in new stores and with new retailers this year, with further expansion planned for 2024. The W7 brand is set to be stocked in an additional 372 CVS stores in the US and 102 Boots stores in the UK during the first quarter of 2024.
The stock was up 6.6% to 336.67 pence in London early Friday. It is up 92% over the past 12 months.
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