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Warpaint London PLC on Wednesday trumpeted a strong performance in the first half of the year, as both profit and revenue were lifted on strong sales across all geographic areas. For the six months ended June 30, the Iver, England-based supplier of colour cosmetics and owner of the W7 and Technic brands reported pretax profit of £6.2 million, up 77% from £3.5 million a year prior. Revenue rose 46% to £36.7 million from £25.2 million the previous year. UK revenue was up 28% to £13.3 million from £10.4 million, while international revenue was up 58% to £23.4 million from £14.8 million. Warpaint hailed ‘significant’ growth across all geographic areas, and it noted particular progress in the US, where initial sales have been ahead of expectations. Earnings before interest, tax, depreciation and amortisation were £7.3 million, up from £5.4 million. Earnings per share were 6.2 pence, up from 3.5p. ‘As in previous years, the group’s sales are expected to remain second half weighted, reflecting Christmas seasonal sales and ongoing sales momentum,’ said Chief Executive Officer Sam Bazini. ‘We anticipate updating further on trading later in the year, and with significant opportunities for continued growth, both already secured with our existing retailers and in discussion with additional major retailers globally, I am confident that the group will continue to perform well for the remainder of the year and beyond.’ Warpaint declared an interim dividend of 3.0p per share, up 15% from 2.6p for the same period a year prior. Warpaint shares were up 0.5% at 304.00 pence in London on Wednesday morning. The stock has more than doubled from 128.50p in the past 12 months. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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