AGM Statement

Warpaint London PLC

28 June 2023

 

28 June 2023

Warpaint London PLC

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

AGM Statement

Warpaint London plc (AIM: W7L), 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 2023 anticipated to be in excess of £36 million (six months to 30 June 2022: £25.2 million), with margins continuing to be robust and ahead of those achieved in 2022.

"Further progress continues to be made with expanding the Group's presence in larger retailers and we are pleased to report that the W7 brand will be launched in an initial 73 Superdrug stores in September 2023.  The Group has significant further opportunities to grow sales, both with new and existing customers, and remains in active discussions with a number of UK and overseas retailers.

"As previously announced, pending approval by shareholders at today's AGM, a final dividend of 4.5 pence per share will be paid on 4 July 2023 to shareholders on the register at 16 June 2023."

Note: All figures used in this announcement, other than those in respect of the financial year ended 31 December 2022, remain subject to audit.

Enquiries:

Warpaint London Sam Bazini - Chief Executive Officer Eoin Macleod - Managing Director Neil Rodol - Chief Financial Officer	c/o IFC
Shore Capital (Nominated Adviser & Broker) Patrick Castle, Daniel Bush - Corporate Advisory Fiona Conroy - Corporate Broking	020 7408 4090
IFC Advisory (Financial PR & IR) Tim Metcalfe, Graham Herring, Florence Chandler	020 3934 6630

Warpaint London plc

Warpaint sells branded cosmetics under the lead brand names of W7 and Technic. W7 is sold in the UK primarily to 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 supplies own brand white label cosmetics produced for several major high street retailers.  The Group also sells cosmetics using its other brand names of Man'stuff, Body Collection and Chit Chat.

 

END