Warpaint sees FY results ahead of expectations
Warpaint London
521.90p
13:50 23/12/24
Warpaint said on Wednesday that full-year results were set to be ahead of its expectations as strong trading continued into the fourth quarter.
FTSE AIM All-Share
712.09
13:55 23/12/24
In an update for the year to the end of December, the company - which sells cosmetics under the brand names of W7 and Technic - said full-year sales are expected to be £64m, ahead of its previous guidance of £61m, following "particularly strong" trading in Q4.
It also expects to report adjusted earnings before interest, tax, depreciation and amortisation of about £11.8m and adjusted pre-tax profit of £10m. Both are ahead of current market expectations and the board's previous guidance of £10.6m and £9m, respectively.
Chief executive Sam Bazini said: "I am delighted with the performance of the group in 2022 and I am pleased to report that we ended 2022 ahead of expectations, both for sales and profits.
"We enjoyed a strong trading performance in Q4 2022 across the group, with sales growth in the US and online being particular highlights. We were also able to improve our margins year-on-year.
"We expect to see a continuing strong performance in 2023 and I look forward to updating further at the time of the release of the group’s results in April."