Warpaint London FY results seen ahead of expectations

Colour cosmetics supplier Warpaint London said on Thursday that its recent "strong trading performance" had continued and believes its full-year results will now come in ahead of market expectations.

Warpaint London stated group sales for the year ending 31 December were now expected to be at least £61.0m, with the group's key pre-Christmas sales period still to come. Adjusted pre-tax profits were forecast to be in excess of £9.0m.

The AIM-listed firm said its gross product margin remained "robust" and continues to be at a level in excess of that achieved in 2021.

"In addition to the strong operating performance referred to above, the group expects to potentially further benefit from favourable foreign exchange gains, through its existing hedging arrangements, although the exact quantum will depend on the prevailing exchange rates for the remainder of the year," said Warpaint.

As of 1010 BST, Warpaint shares had surged 17.56% to 129.90p.

Reporting by Iain Gilbert at Sharecast.com