17th Sep 2024 10:45
(Alliance News) - Warpaint London PLC on Tuesday said its half-year profit has jumped by more than 75%, as the company continues to focus on expansion and growth.
The Buckinghamshire, England-based colour cosmetics supplier that owns the W7 and Technic brands said its pretax profit for the six-month period ended June 30 was GBP10.9 million, up 76% on-year from GBP6.2 million. Revenue was up 25% to GBP45.8 million from GBP36.7 million.
Warpaint London announced an interim dividend per share of 3.50 pence, up 17% on-year from 3.00p.
Shares in Warpaint London were up 12% at 576.00 pence each in London on Tuesday morning.
UK revenue increased by 17% on-year to GBP15.5 million from GBP13.3 million, and international revenue rose by 30% on-year to GBP30.3 million from GBP23.4 million.
Chief Executive Sam Bazini said: "I am delighted with the group's performance in the first half, with continuing strong growth in sales and reflecting the ongoing success of the group's strategy of focusing on growing profitable sales of its branded products globally, whilst increasing overall margins.
"There continues to be significant growth opportunities for Warpaint, and the group is very well positioned to achieve further growth with additional improvement in margins. As in previous years, the group's sales are expected to be second-half weighted, reflecting Christmas seasonal sales and ongoing sales momentum.
"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."
By Emily Parsons, Alliance News reporter
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