Warpaint London continues to deliver colourful results with the specialist cosmetics supplier (think W7, Technic, Skin & Tan, Super Facialist, Dirty Works and Fish Soho brands) talking of “robust” trading and “significantly higher” margins.
The good news was delivered ahead of Tuesday morning’s (17 June) AGM, although not everyone was impressed as its shares had fallen 7.5% by the time the meeting started.
Did the share price dip relate to chairman Clive Garston noting that its Q2 performance had been impacted by an expected slowdown in its US business? Maybe. But he stressed it remains a modest proportion of group sales (8.5% in 2024), following the imposition of higher tariffs.
Following on from record sales and profits in 2024, the latest results were undoubtably good. Sales for the six months to 30 June are expected to range from £50 million-£52 million, up from £45.9 million in the year-ago period, including an approximate £5 million contribution from Brand Architekts, acquired in February.
And group sales overall are being achieved at a “significantly higher margin than that achieved in 2024”, he added.
Meanwhile, sales are expected to continue their upward trajectory for FY25, “heavily second-half-weighted” boosted by a large number of planned product rollouts to additional stores together with a significant Christmas order book, it said.
The company said there also continues to be “substantial growth opportunities” and is “very well positioned to achieve further growth, with additional improvement in margins”.
And with Brand Architekts “providing additional and exciting growth opportunities”, plus a strong balance sheet and positive cash balances (£15.8 million up from £5.5 million a year ago), Garston said the board “remains confident” it will meet market expectations for the year ending 31 December.
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