Warpaint FY results seen ahead of market expectations

Warpaint stated unaudited sales for the year ended 31 December had exceeded those achieved in 2019 at £50.0m, up from £40.3m in 2020 and slightly above the £49.3m recorded in 2019, the most recent financial year that experienced no impact from the Covid-19 pandemic.

The AIM-listed firm said gross margins were maintained ahead of those achieved in 2020 and 2019 at approximately 33.8%, despite increased costs in the supply chain, particularly in terms of freight.

As a result, Warpaint now expects full-year adjusted underlying earnings to be approximately £7.7m, up from £4.2m last year and £7.0m in 2019, while adjusted pre-tax profits expected to be approximately £6.6m, both of which were ahead of market expectations.

Warpaint expects to release its results for the year ended 31 December in April.

As of 0915 GMT, Warpaint shares were up 7.14% at 165.0p.