Warpaint sees FY results 'significantly ahead' of previous expectations

15th Jun 2023 09:33

(Sharecast News) - AIM-listed Warpaint London said on Thursday that full-year results are set to be "significantly ahead" of its previous expectations, driven by a continued strong start to the year.

The company, which owns the W7 and Technic brands, said the strong trading reported in April has continued into the second quarter.

Sales for the five months to the end of May were up 45% on the same period a year earlier to £29.7m, with margins remaining "robust" and ahead of those achieved in 2022.

Warpaint said it continues to be cash generative and maintains a strong balance sheet, with cash balances as at 31 May totalling £7.5m, versus £5.8m at the end of December 2022 and £2.7m at the end of May last year, and no debt.

At 0850 BST, the shares were up 8% at 272.73p.