8th Sep 2022 10:44
(Alliance News) - Warpaint London PLC shares jumped on Thursday as it said that it now expects full-year results to be ahead of market expectations.
Shares in the Buckinghamshire-based cosmetics maker were up 16% to 128.57 pence each in London on Thursday mid-morning.
Warpaint said it experienced "strong" trading in the first half of 2022 and this momentum has continued into the second half of the year. Based on this, the company now expects its 2022 results to be ahead of market expectations.
Group sales for 2022 are now expected to be at least GBP61 million, noting the "key" pre-Christmas sales period still to come. Further, pretax profit for the year is now expected to be in excess of GBP9 million.
Warpaint added that it anticipates a potential further benefit from favourable foreign exchange gains, through its existing hedging arrangements. However, the exact benefit will depend on exchange rates for the remainder of the year.
In 2021, Warpaint recorded GBP50.0 million of revenue and it swung to a pretax profit of GBP3.7 million.
The company will release its interim results for the six months ended June 30 on September 21.
By Sophie Rose; [email protected]
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