Warpaint sees FY results ahead of expectations

11th Jan 2023 07:15

(Sharecast News) - Warpaint said on Wednesday that full-year results were set to be ahead of its expectations as strong trading continued into the fourth quarter.

In an update for the year to the end of December, the company - which sells cosmetics under the brand names of W7 and Technic - said full-year sales are expected to be £64m, ahead of its previous guidance of £61m, following "particularly strong" trading in Q4.

It also expects to report adjusted earnings before interest, tax, depreciation and amortisation of about £11.8m and adjusted pre-tax profit of £10m. Both are ahead of current market expectations and the board's previous guidance of £10.6m and £9m, respectively.

Chief executive Sam Bazini said: "I am delighted with the performance of the group in 2022 and I am pleased to report that we ended 2022 ahead of expectations, both for sales and profits.

"We enjoyed a strong trading performance in Q4 2022 across the group, with sales growth in the US and online being particular highlights. We were also able to improve our margins year-on-year.

"We expect to see a continuing strong performance in 2023 and I look forward to updating further at the time of the release of the group's results in April."