- Warpaint London shares have risen 146% in the last year
Warpaint London shares rose on Wednesday after the group hailed record annual sales and profits thanks to growing demand for its branded products.
The London-listed group, which owns the W7 and Technic brands, enjoyed “significant” growth across all territories as sales rose 40 per cent year-on-year to £89.6m.
The boost saw pre-tax profits soar 136 per cent to £18.1 million, while earnings before interest, tax, depreciation and amortization rose 74 per cent to £20.4 million.
War paint actions They rose 4.68 per cent or 22 pence to 492.00 pence on Wednesday afternoon, having risen 146 per cent in the last year.
On the rise: Warpaint London enjoyed a strong rise in online sales last year
Revenue growth was driven by sales in the European Union, which rose 60.5 per cent to £45.1 million, while UK and US revenue grew by 17.6 and 36.8 percent respectively to £32.4 million and £7.3 million.
Warpaint has been expanding its presence in major retailers around the world, while its W7 products launched last year in 200 New Look and 71 Superdrug stores in the UK.
The group said the growth reflected “the focus on increasing sales of the group’s branded products”, which rose 47 per cent in the year to £84.8m, driven by W7.
Direct online sales increased by 121 per cent in 2023 to £6.2 million, representing 6.9 per cent of sales.
The group recommended a final dividend of 6p per share, taking the total dividend for the year to 9p, an increase of 27 per cent.
Chairman Clive Garston said: ‘This reflects the execution of Warpaint’s consistent and focused strategy. The key to our growth has been, and will continue to be, expanding our presence in large retailers globally, increasing our sales with existing customers, building relationships with new ones and increasing our online presence.
‘Despite the continued volatile economic environment and the challenges our customers face, I am optimistic that the strong performance we have seen in 2022, 2023 and now 2024 will continue and that we have the right offering and strategy in place to continue delivering a future profitable. growth.’
Milo Bussell, analyst at Edison Group, said: ‘The significant growth of branded products, particularly the stellar performance of leading brand W7, underlines the effectiveness of Warpaint’s product portfolio and market positioning.
‘Expansion efforts at major retailers, particularly in the UK and US, have borne fruit, generating record sales for the first quarter of 2024 and positioning Warpaint optimistically for the future.
“With a solid foundation and momentum, Warpaint remains poised to capitalize on its strategic initiatives and continued growth at major retailers, building confidence for the year ahead.”
