Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Cosmetics company Warpaint London upgraded its annual profit guidance after it achieved higher-than-expected sales and its margins held up despite supply-chain pressures.
Adjusted pre-tax profit for the year through December was seen rising to £6.6 million, up from £2.3 million in 2020 and £5.2 million in 2019.
Revenue was now expected to exceed the £50 million achieved in 2019.
Gross margins were maintained ahead of those achieved in 2020 and 2019 at about 33.8%.
'We expect to see a continuing improvement in performance in 2022 and have started the year strongly,' chief executive Sam Bazini said.
'In line with our stated strategy we have significant opportunities for further growth, both with our existing retailers, and those such as Boots where we are expecting to launch very shortly, together with others that we are in discussions with.'