Warpaint London PLC Trading Update and Notice of Results (9681H)

TIDMW7L

RNS Number : 9681H

Warpaint London PLC

06 August 2019

6 August 2019

Warpaint London plc

("Warpaint London" or the "Company" or the "Group")

Trading Update and Notice of Results

Warpaint London plc (AIM: W7L), the specialist supplier of colour cosmetics and owner of the W7 and Technic brands, provides a trading update for the current financial year.

As reported at the time of the Company's AGM in May 2019, whilst trading conditions remain challenging in the UK, the Company continues to see encouraging international sales growth, in particular in the EU and the US. The Board anticipates that Group sales for the financial year to 31 December 2019 will be approximately GBP50 million.

However, a number of factors including the geographic mix of sales, adverse exchange rate movements and the Group's investment in its strategy for future growth, particularly in the US, are having an impact on profitability in the current financial year. Consequently, the Company's board currently expects adjusted profit before tax for the year ending 31 December 2019 (excluding amortisation in connection with acquisitions, share incentive scheme costs and exceptional items, which the board expects to total approximately GBP2.8 million) will be in the range of GBP6 million to GBP7 million.

The Group continues to have a robust balance sheet and to actively implement its strategy for growth.

A further update on current trading will be provided at the time of release of the Company's interim results for the six months to 30 June 2019, which will be announced on 18 September 2019.

Enquiries:

 
 Warpaint London                                  c/o IFC 
  Sam Bazini - Joint Chief Executive Officer 
  Eoin Macleod - Joint Chief Executive Officer 
  Neil Rodol - Chief Financial Officer 
  Shore Capital (Nominated Adviser and Broker) 
   Antonio Bossi - Corporate Finance 
   Fiona Conroy - Corporate Broking                020 7408 4090 
  IFC Advisory (Financial PR & IR) 
   Tim Metcalfe 
   Heather Armstrong 
   Florence Chandler                               020 3934 6630 
 

Warpaint London plc

Warpaint London is a colour cosmetics business, based in Iver, Buckinghamshire. It is made up of two divisions: own brand and close-out. The larger own brand division primarily consists of the Group's flagship brand, W7, together with the Technic, Body Collection and Man'stuff brands acquired through the acquisition of Retra Holdings in 2017.

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August 06, 2019 02:00 ET (06:00 GMT)