|
Warpaint London PLC on Thursday said it expects to report higher profit and revenue for 2024 and said it started the new year strongly, though with some slowdown from its recently heady pace of growth. Warpaint London shares were down 18% to 436.75 pence each on Thursday morning in London. The Buckinghamshire, England-based colour cosmetics supplier and owner of W7 and Technic brands said revenue will be around £102 million in 2024, up 14% from £89.6 million in 2023, when revenue had jumped 40% from £64.1 million in 2022. For the first half of 2024, Warpaint had reported a 25% jump in revenue to £45.8 million from £36.7 million, indicating the pace of revenue growth has since further slowed. Warpaint London on Thursday said January revenue was 15% higher than in January 2024, suggesting a deceleration in the pace of growth compared to the first half of last year. Pretax profit is expected to be £24 million in 2024, 33% higher than £18.1 million in 2023, when pretax profit had surged from £7.7 million in 2022. The pace of growth also for all of 2024 also was slower than in the first half. In the first half of 2024, Warpaint London had reported a 76% surge in pretax profit to £10.9 million from £6.2 million a year prior. Chief Executive Officer Sam Bazini said: ‘I am pleased with the group’s performance in 2024 and the strong start to 2025, despite ongoing consumer spending headwinds. It was also pleasing that improved margins were maintained throughout the year. We expect to see continued growth across the group in 2025, and we look forward to completing the acquisition of Brand Architekts later this month and integrating the business into the group.’ Warpaint is buying fellow London-listed Brand Architekts Group PLC for £13.9 million, with the deal approved by Brand Architekts shareholders last month. Copyright 2025 Alliance News Ltd. All Rights Reserved.
|
