REG - Warpaint London PLC - AGM Statement

Warpaint LondonAnnouncement

26/06/2024 07:00

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RNS Number : 8552T  Warpaint London PLC  26 June 2024

26 June 2024

 

Warpaint London PLC

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

 

AGM Statement

 

Warpaint London plc (AIM: W7L; OTCQX: WPNTF), 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 continues to trade strongly with sales for the six months to 30
June 2024 expected to be approximately £46 million (six months to 30 June
2023: £36.7 million), with margins continuing to be robust and ahead of those
achieved in 2023.  Consistent with previous years, due to Christmas gifting
orders and the Group's momentum, sales are expected to again be second half
weighted.

 

"Further progress continues to be made with expanding the Group's presence in
larger retailers globally and the Group has significant further opportunities
to grow sales, both with new and existing customers.  The Group has a number
of planned product roll outs to additional stores in the second half of the
year and remains in active discussions with a number of UK and overseas
retailers about stocking the Group's products.

 

"As previously announced, pending approval by shareholders at today's AGM, a
final dividend of 6.0 pence per share will be paid on 5 July 2024 to
shareholders on the register at 14 June 2024."

 

Note: All figures used in this announcement are unaudited.

 

Enquiries:

 Warpaint London plc                               c/o IFC
 Sam Bazini - Chief Executive Officer

 Eoin Macleod - Managing Director

 Neil Rodol - Chief Financial Officer

 Shore Capital (Nominated Adviser & Broker)        +44 (0)20 7408 4090
 Patrick Castle, Daniel Bush - Corporate Advisory

 Fiona Conroy - Corporate Broking

 IFC Advisory (Financial PR & IR)                  +44 (0)20 3934 6630

 Tim Metcalfe, Graham Herring, Florence Chandler

 

Warpaint London plc

 

Warpaint sells branded cosmetics under the lead brands 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 also sells
cosmetics under its other brand names of Man'stuff, Body Collection and Chit
Chat, each targeting a different demographic.

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