Warpaint London delivers buoyant trading update
Beauty specialist Warpaint London delivered a pleasing trading update on Friday and said that its strong performance last year has continued during Q1.
The owner of the W7 and Technic brands had previously said that particularly strong trading in Q4 helped 2022 sales to exceed previous expectations. And this buoyancy has carried on in the early months of 2023 with no apparent adverse impact from the cost-of-living crisis.
In fact, sales for the first quarter are expected to hit a record for the group, with sales up to 23 March already in excess of £16 million even though there’s still a week of the quarter to go. The whole of Q1 last year saw sales of £13.2 million.
Margins also continue to be “robust and in line with those achieved in 2022”.
It all means the stock exchange-listed company now expects the outlook for this year as a whole to be ahead of the board's previous expectations.
CEO Sam Bazini said: “I am delighted that the strong performance seen in 2022 has continued into 2023. We are enjoying… sales growth in many territories and online. We also continue to enjoy healthy margins.”
The company will release its 2022 results on 26 April.
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