Clive Garston, Chairman of Warpaint, commented: “2017 was Warpaint’s first full year as an AIM company and I am pleased to report that the year was one of significant growth and achievement. The acquisition of Retra, which we made in November 2017, has been successfully integrated into the Group and we continue to focus heavily on building brand awareness, both in the UK and in overseas markets.
After a successful first year as a quoted company, we look to the future with considerable optimism. We have had a promising start to the current year, in line with the Board’s expectations, and with a sound financial base, including net cash, prospects are encouraging. I believe we are well positioned to continue to deliver increasing shareholder value in 2018 and the outlook for the Group remains positive.”
Warpaint London plc (LON:W7L), the specialist supplier of colour cosmetics and owner of the W7 and Technic brands, this morning announced its audited results for the year ended 31 December 2017.
Financial Highlights
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Proforma revenue increased by 15.6% to £31.2 million (2016: £27.0 million) |
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Proforma adjusted operating margin 24.4% (2016: 25.2%) |
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Proforma adjusted earnings per share increased by 8.0% to 9.4p (2016: 8.7p) |
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Net cash at the year end of £2.0 million (31 December 2016: £3.5 million) |
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Cash generated from operating activities £5.2 million (2016: £3.0 million) |
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Final dividend for the year of 2.6p per share (total dividend for the year of 4p per share including interim dividend) |
(Proforma numbers are adjusted to exclude the revenue of Retra for Dec 2017, and for exceptional items and amortisation costs on acquisitions in 2017 and 2016)
Operational Highlights
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Acquisition of Retra Holdings Ltd (“Retra”) for £18.2 million on 30 November 2017 |
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W7 brand sales in the UK up 17.1% |
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W7 brand sales internationally up 16.8% |
