Warpaint London PLC Announces AGM Statement

Rhea-AI Summary

Warpaint London PLC (AIM:W7L, OTCQX:WPNTF) announced positive trading updates at their Annual General Meeting on June 26, 2024. The company expects sales for the first half of 2024 to be approximately £46 million, up from £36.7 million in the same period in 2023. Margins are also reported to be ahead of the previous year. Warpaint is expanding its presence in larger global retailers and plans to roll out new products in the second half of the year. The final dividend of 6.0 pence per share is pending shareholder approval, payable on July 5, 2024.

Positive

• Sales for the first half of 2024 expected to be £46 million, up from £36.7 million in 2023.
• Margins remain robust and ahead of 2023.
• Expansion into larger retailers globally.
• Planned product rollouts in the second half of the year.
• Final dividend of 6.0 pence per share payable on July 5, 2024.

Negative

• None.

LONDON, UK / ACCESSWIRE / June 26, 2024 / Warpaint London plc ("Warpaint", the "Company" or the "Group") (AIM:W7L)(OTCQX:WPNTF), the specialist supplier of colour cosmetics and owner of the W7 and Technic brands, announces that at the Annual General Meeting ("AGM") of the Company to be held at 10 a.m. today, Clive Garston, Chairman of the Company, will make the following statement:

"The Group continues to trade strongly with sales for the six months to 30 June 2024 expected to be approximately £46 million (six months to 30 June 2023: £36.7 million), with margins continuing to be robust and ahead of those achieved in 2023. Consistent with previous years, due to Christmas gifting orders and the Group's momentum, sales are expected to again be second half weighted.

"Further progress continues to be made with expanding the Group's presence in larger retailers globally and the Group has significant further opportunities to grow sales, both with new and existing customers. The Group has a number of planned product roll outs to additional stores in the second half of the year and remains in active discussions with a number of UK and overseas retailers about stocking the Group's products.

"As previously announced, pending approval by shareholders at today's AGM, a final dividend of 6.0 pence per share will be paid on 5 July 2024 to shareholders on the register at 14 June 2024."

Note: All figures used in this announcement are unaudited.

Enquiries:

Warpaint London plc	c/o IFC
Sam Bazini - Chief Executive Officer Eoin Macleod - Managing Director Neil Rodol - Chief Financial Officer
Shore Capital (Nominated Adviser & Broker)	+44 (0)20 7408 4090
Patrick Castle, Daniel Bush - Corporate Advisory Fiona Conroy - Corporate Broking
IFC Advisory (Financial PR & IR) Tim Metcalfe, Graham Herring, Florence Chandler	+44 (0)20 3934 6630

Warpaint London plc

Warpaint sells branded cosmetics under the lead brands of W7 and Technic. W7 is sold in the UK primarily to major retailers and internationally to local distributors or retail chains. The Technic brand is sold in the UK and continental Europe with a significant focus on the gifting market, principally for high street retailers and supermarkets. In addition, Warpaint also sells cosmetics under its other brand names of Man'stuff, Body Collection and Chit Chat, each targeting a different demographic.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: Warpaint London plc

View the original press release on accesswire.com

FAQ

What are Warpaint London PLC's expected sales for the first half of 2024?

Warpaint London PLC expects sales for the first half of 2024 to be approximately £46 million.

How do Warpaint London PLC's 2024 sales compare to 2023?

Sales for the first half of 2024 are expected to be £46 million, up from £36.7 million in the same period in 2023.

What is the status of Warpaint London PLC's profit margins in 2024?

Warpaint London PLC reports that its margins for the first half of 2024 are robust and ahead of those achieved in 2023.

What are Warpaint London PLC's plans for the second half of 2024?

Warpaint London PLC plans further expansions into larger retailers globally and has product rollouts scheduled for the second half of the year.

When is Warpaint London PLC's final dividend payment date in 2024?

Pending shareholder approval, Warpaint London PLC's final dividend of 6.0 pence per share will be paid on July 5, 2024.

What is the dividend amount per share announced by Warpaint London PLC in 2024?

Warpaint London PLC has announced a final dividend of 6.0 pence per share, pending shareholder approval.