- Group year-on-year sales to December 31 will be at least £85m, up from £64.1m.
- Pre-tax profit expected to be over £16m, up from £7.7m
Warpaint London shares rose sharply as the cosmetics group raised its full-year profit forecast above market expectations after enjoying “significant growth across all geographies”.
Group sales for the year are now expected to be at least £85m, up from £64.1m, and the key pre-Christmas sales period for the company is still ongoing.
It also revealed that pre-tax profit is now expected to be more than £16m, up from £7.7m previously.
The company also revealed that pre-tax profit is now expected to exceed £16m, up from £7.7m in 2022.
War paint actions They rose 7.3 per cent to 335.85 pence in afternoon trading on Friday.
Warpaint said its gross product margin remains strong and remains at a higher level than achieved in 2022.
The group also flagged an update to its expansion strategy amid “new launches scheduled in 2023 and 2024 with new major retailers and the expansion of the range of products supplied with certain existing customers.”
In a trading update, it said: “Launches in November 2023 include a range of W7 products in 400 Etos stores in the Netherlands and 100 Watsons stores in the Philippines, along with a range of Technic products launching in over 200 stores Wibra in the Philippines”. Netherlands.
“Further expansion is also planned with existing retailers, including W7 which will be stocked in an additional 372 CVS stores in the US and 102 Boots stores in the UK during the first quarter of 2024.”
In September, the company revealed record sales and profits in its interim results and the group believes it is “very well positioned for further growth”.
The company’s group sales rose 46 per cent to £36.7 million in the six months to June 30, and UK revenue rose 28 per cent to £13.3 million.
The company’s adjusted earnings before interest, tax, depreciation and amortization rose to £7.9 million, up from £4.4 million.
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