Warpaint London Plc (W7L): Trading update: soft...

Hardman & Co Research Hardman & Co Research: Warpaint London Plc (W7L): Trading update: softening UK market 01-Nov-2018 / 12:45 GMT/BST Hardman & Co: Trading update: softening UK market Warpaint has released a trading update for the year ending 31 December 2018. The company has prudently signalled that group sales for FY2018 are likely to be lower than previously indicated, in the range of £48m-£52m, with adjusted PBT of £8.5m-£10m. The company says that trading conditions in the UK remain challenging but that it has seen strong growth in its overseas markets. The share price responded negatively to this trading announcement, plunging by over 45% to 112.5p on the day, from the 206.5p closing price on 26 October. We have lowered FY18E revenue to £50.0m, from £55.1m, with adjusted PBT of £9.1m, from £12.4m, but we retain a dividend forecast of 5.5p. Please click here for the full report: https://www.hardmanandco.com/research/corporate-research/trading-update-softening-uk-market/ To contact us: Hardman & Co 35 New Broad Street London EC2M 1NH www.hardmanandco.com Follow us on Twitter @HardmanandCo Contacts: Yingheng Chen [phone] [e-mail]     Hardman & Co Research can still be accessed for free after MiFID II. Please click here to read the statement. About Hardman & Co: For the past 21 years Hardman has been producing specialist research designed to improve investors' understanding of companies, sectors, industries and investment securities. Our analysts are highly experienced in their sectors, and have often been highly rated by professional investors for their knowledge. Our focus is to raise companies' profiles across the world with high-quality research, investor engagement programmes and advisory services. Hardman Research Ltd, trading as Hardman & Co, is an appointed representative of Capital Markets Strategy Ltd and is authorised and regulated by the Financial Conduct Authority; our FCA registration number is 600843. Hardman Research Ltd is registered at Companies House with number 8256259. Our research is provided for the use of the professional investment community, market counterparties and sophisticated and high net worth investors as defined in the rules of the regulatory bodies. It is not intended to be made available to unsophisticated retail investors. Anyone who is unsure of their categorisation should consult their professional advisors. This research is neither an offer, nor a solicitation, to buy or sell any security. Please read the note for the full disclaimer. Dissemination of a CORPORATE NEWS, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.

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