Warpaint London profit slips 32% despite sales boost

Writer, Stock Market Wire
Wednesday, April 10, 2019 - 07:59

Cosmetics retailer Warpaint London booked a 32% fall in annual profit after rising sales were more than offset by acquisition and impairment expenses.

Pre-tax profit for the year through December fell to £4.7m, even as revenue jumped 49% to £48.5m.

Sales were offset by LMS and Retra acquisition costs plus expenses from a Retra staff restructuring and impairment charge.

Adjusted profit rose 6.5% to £8.2m.

The company declared a final dividend of 2.9p per share, bringing total dividends for the year to 4.4p, up 10% on-year.

'2018 was a challenging year for the company as it faced continuing uncertainty caused by the prospect of Brexit, a fluctuating Sterling exchange rate and a severe decline in retail sales on the UK high street,' chairman Clive Garston said.

'However, despite the challenges of 2018 I believe the company is well placed for the future.'

'Whilst trading conditions remain difficult in the UK, we have had a promising start to the current financial year.'

'We continue to grow internationally and expect our sales outside the UK to be an ever greater proportion of group sales going forward.'

'In particular, I am encouraged by the sales of the Retra brands and our growth in the US.'

"The group has a sound financial footing with a strategy for growth across all our markets.'

'The board is cautiously optimistic for the 2019 financial outturn, with growth in sales and Ebitda anticipated.'


Related content

Warpaint London says UK trading conditions remain challenging

Cosmetics company Warpaint London said trading conditions continued to challenging in the UK, though international markets were faring better.

"I am pleased to report that...

Tue, 21/05/2019 - 13:23


Warpaint London sees annual revenue, profits rising

Cosmetics group Warpaint London said it expected to post a rise in both its annual revenue and profits.

Revenue for the year through December was...

Tue, 29/01/2019 - 07:43


Warpaint London warns challenging UK conditions to weigh on profits

Cosmetics company Warpaint London warned that challenging trading conditions in the UK would weigh on its annual sales and profits.

The company said that the...

Mon, 29/10/2018 - 07:19


Warpaint London profit slips on rising costs

Cosmetics supplier Warpaint London said its first-half profit more than halved, after higher costs offset rising revenue.

Pre-tax profit for the six months through June...

Mon, 17/09/2018 - 07:56


Warpaint London acquires US distributor Marvin Leeds

Cosmetics company Warpaint London said it had acquired its US distributor Marvin Leeds Marketing Services, for an undisclosed sum.

In the year through December, Leeds...

Fri, 03/08/2018 - 08:22