Warpaint London plc (LON:W7L), the specialist supplier of colour cosmetics and owner of the W7 and Technic brands, has announced its audited results for the year ended 31 December 2023.
Financial Highlights
| · | Strong growth in sales, margins and profits to reach record levels for the Group. Significant growth in all geographic regions reflecting the focus on growing sales of the Group’s branded products |
| · | Group sales for 2023 grew by 40% to £89.6 million (2022: £64.1 million) |
| · EU revenue increased by 60.5% to £45.1 million (2022: 28.1 million)· UK revenue increased by 17.6% to £32.4 million (2022: £27.6 million) | |
| · US revenue increased by 36.8% to £7.3 million (2022: £5.3 million) | |
| · | Gross profit margin increased to 39.9% (2022: 36.4%) |
| · | EBITDA increased 74% to £20.4 million (2022: £11.7 million) |
| · | Profit before tax was up by 136% to £18.1 million (2022: £7.7 million) |
| · | Earnings per share up 123% 18.1p (2022: 8.1p) |
| · | Cash of £9.1 million at 31 December 2023 (31 December 2022: £5.9 million), with no debt |
| · | Recommended final dividend of 6.0 pence per share (2022: 4.5 pence per share), bringing the total dividend for the year to 9.0 pence per share (2022: 7.1 pence per share), an increase of 27% |
