Warpaint London plc (AIM: W7L), a company specializing in colour cosmetics and the proprietor of the W7 and Technic brands, update on its current business activities.
On April 26, 2023, the company shared its annual results for the year closing on December 31, 2022, highlighting that the Group had experienced strong trading in the first quarter of 2023. Warpaint is thrilled to announce that this positive trading trend persisted into the second quarter of 2023.
In the five months ending on May 31, 2023, the company’s sales surged by 45% compared to the same period in the previous year, reaching £29.7 million (compared to £20.5 million for the five months ending May 31, 2022). With profit margins consistently sturdy and surpassing those recorded in 2022, the Board is now optimistic that the Group’s overall performance for 2023 will substantially exceed prior projections.
Warpaint continues to generate profit and holds a robust balance sheet, with cash reserves amounting to £7.5 million as of May 31, 2023 (compared to £2.7 million on May 31, 2022, and £5.8 million on December 31, 2022), and with no outstanding debt.
Please note: All figures provided in this update, barring those concerning the fiscal year ending on December 31, 2022, are yet to be audited.
