Warpaint London says trading stays strong, gets Superdrug boost

There was good news for Warpaint London shareholders ahead of the colour cosmetics specialist’s Wednesday (26 June) AGM, helped by its Superdrug and New Look deals.

Following a strong fiscal 2023, chairman Clive Garston said the group “continues to trade strongly” with sales for the six months to 30 June expected to be around £46 million, up from £36.7 million a year ago.

He also said margins “continue 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”, he noted.

And the outlook continues to positive too. ”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, boosted by a “number of planned product roll outs to additional stores in the second half of the year. It also remains in “active discussions” with a number of UK and overseas retailers about stocking the group’s products.

Warpaint London is also targeting North America growth and began trading its shares on the OTCQX Best Market in the US in May.

It’s a growing market for its key brands, which include The W7 and Technic. 

Today’s announcement confirmed Warpaint’s continuing growth with major retailers both in the UK (New Look, Superdrug, Boots and Morrisons), in the US (including Walmart, Five Below and CVS), and in Europe, where it is “ramping up expansion [in its] largest sales region”.

Last year, it opened in 71 Superdrug sites and was also added to an extra 200 New Look sites following its launch there in 2022. And it will open in another 63 Superdrug stores next moth.