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Warpaint London swings to loss; lifts dividend amid sales rebound
StockMarketWire.com
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Cosmetics company Warpaint London swung to a full-year loss after the pandemic forced the temporary closure of many retail outlets.
Pre-tax losses for the year through December amounted to £1.1 million, compared to a year-on-year profit of £1.8 million. Revenue fell 18% to £40.3 million.
Warpaint London declared a final dividend of 3p per share, bringing the total payout for the year to 5.8p, up from 1.5p year-on-year.
The total payout included a 1.3p special dividend paid in November to reflect that no final dividend was declared for 2019.
The company said sales in the first quarter of 2021 had risen 9% year-on-year, with product margins expanding.
'Trading improved in the second half of 2020 and we are pleased to report this trend has continued into the first quarter of 2021,' chairman Clive Garston said.
'I am optimistic that these encouraging trends will continue and that we have the right strategy in place to deliver profitable future growth.'
At 8:42am: (LON:W7L) Warpaint London Plc share price was 0p at 67.5p
Story provided by StockMarketWire.com
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