Latest news with #CliveGarston
Fashion Network
3 days ago
- Business
- Fashion Network
Warpaint London says strong performance continues
Warpaint London continues to deliver colourful results with the specialist cosmetics supplier (think W7, Technic, Skin & Tan, Super Facialist, Dirty Works and Fish Soho brands) talking of 'robust' trading and 'significantly higher' margins. The good news was delivered ahead of Tuesday morning's (17 June) AGM, although not everyone was impressed as its shares had fallen 7.5% by the time the meeting started. Did the share price dip relate to chairman Clive Garston noting that its Q2 performance had been impacted by an expected slowdown in its US business? Maybe. But he stressed it remains a modest proportion of group sales (8.5% in 2024), following the imposition of higher tariffs. Following on from record sales and profits in 2024, the latest results were undoubtably good. Sales for the six months to 30 June are expected to range from £50 million-£52 million, up from £45.9 million in the year-ago period, including an approximate £5 million contribution from Brand Architekts, acquired in February. And group sales overall are being achieved at a 'significantly higher margin than that achieved in 2024', he added. Meanwhile, sales are expected to continue their upward trajectory for FY25, 'heavily second-half-weighted' boosted by a large number of planned product rollouts to additional stores together with a significant Christmas order book, it said. The company said there also continues to be 'substantial growth opportunities' and is 'very well positioned to achieve further growth, with additional improvement in margins'. And with Brand Architekts 'providing additional and exciting growth opportunities', plus a strong balance sheet and positive cash balances (£15.8 million up from £5.5 million a year ago), Garston said the board 'remains confident' it will meet market expectations for the year ending 31 December.
Fashion Network
3 days ago
- Business
- Fashion Network
Warpaint London says strong performance continues
Warpaint London continues to deliver colourful results with the specialist cosmetics supplier (think W7, Technic, Skin & Tan, Super Facialist, Dirty Works and Fish Soho brands) talking of 'robust' trading and 'significantly higher' margins. The good news was delivered ahead of Tuesday morning's (17 June) AGM, although not everyone was impressed as its shares had fallen 7.5% by the time the meeting started. Did the share price dip relate to chairman Clive Garston noting that its Q2 performance had been impacted by an expected slowdown in its US business? Maybe. But he stressed it remains a modest proportion of group sales (8.5% in 2024), following the imposition of higher tariffs. Following on from record sales and profits in 2024, the latest results were undoubtably good. Sales for the six months to 30 June are expected to range from £50 million-£52 million, up from £45.9 million in the year-ago period, including an approximate £5 million contribution from Brand Architekts, acquired in February. And group sales overall are being achieved at a 'significantly higher margin than that achieved in 2024', he added. Meanwhile, sales are expected to continue their upward trajectory for FY25, 'heavily second-half-weighted' boosted by a large number of planned product rollouts to additional stores together with a significant Christmas order book, it said. The company said there also continues to be 'substantial growth opportunities' and is 'very well positioned to achieve further growth, with additional improvement in margins'. And with Brand Architekts 'providing additional and exciting growth opportunities', plus a strong balance sheet and positive cash balances (£15.8 million up from £5.5 million a year ago), Garston said the board 'remains confident' it will meet market expectations for the year ending 31 December.
Fashion Network
3 days ago
- Business
- Fashion Network
Warpaint London says strong performance continues
Warpaint London continues to deliver colourful results with the specialist cosmetics supplier (think W7, Technic, Skin & Tan, Super Facialist, Dirty Works and Fish Soho brands) talking of 'robust' trading and 'significantly higher' margins. The good news was delivered ahead of Tuesday morning's (17 June) AGM, although not everyone was impressed as its shares had fallen 7.5% by the time the meeting started. Did the share price dip relate to chairman Clive Garston noting that its Q2 performance had been impacted by an expected slowdown in its US business? Maybe. But he stressed it remains a modest proportion of group sales (8.5% in 2024), following the imposition of higher tariffs. Following on from record sales and profits in 2024, the latest results were undoubtably good. Sales for the six months to 30 June are expected to range from £50 million-£52 million, up from £45.9 million in the year-ago period, including an approximate £5 million contribution from Brand Architekts, acquired in February. And group sales overall are being achieved at a 'significantly higher margin than that achieved in 2024', he added. Meanwhile, sales are expected to continue their upward trajectory for FY25, 'heavily second-half-weighted' boosted by a large number of planned product rollouts to additional stores together with a significant Christmas order book, it said. The company said there also continues to be 'substantial growth opportunities' and is 'very well positioned to achieve further growth, with additional improvement in margins'. And with Brand Architekts 'providing additional and exciting growth opportunities', plus a strong balance sheet and positive cash balances (£15.8 million up from £5.5 million a year ago), Garston said the board 'remains confident' it will meet market expectations for the year ending 31 December.
Daily Mail
4 days ago
- Business
- Daily Mail
Warpaint London suffers Trump tariff hit to US sales
Warpaint London's US sales have suffered a 'slowdown' owing to President Donald Trump's trade tariffs, weighing on the cosmetics group's first half performance. The group, which supplies the likes of Boots and Tesco with cosmetics, told shareholders on Tuesday its US arm still comprises a 'modest' proportion of the group's sales. And the low-cost cosmetics firm behind W7 and Technic said it expects its overall group sales to be 'heavily second half weighted', but 'even more so than previous years'. Warpaint chair Clive Garston highlighted a 'significant Christmas order book', as well as 'substantial growth opportunities' and further margin improvement. The firm said it continues to 'trade robustly', with sales for the six months to 30 June expected to be in the range of £50million to £52million, up from £45.9million a year ago. But Warpaint London's share price fell 7.16 per cent or 32p to 415p, having slumped over 30 per cent in the last year. Pending approval by shareholders at the firm's AGM today, a final dividend of 7.5p per share will be paid on 4 July to investors on the register at 13 June. Forecasts for the year ahead remained unchanged, while Warpaint highlighted a 'strong balance sheet, with no debt' and £15.8million in cash on hand. 'There continues to be substantial growth opportunities for Warpaint and the Group is very well positioned to achieve further growth, with additional improvement in margins', Garston said. The group said Brand Architekts, which its acquired in February 2025, was now 'fully integrated into the Group and is providing additional and exciting growth opportunities.' Analysts at Peel Hunt said: 'Warpaint London's trading in the YTD has been resilient, despite being impacted by tariff headwinds and broader consumer uncertainty.'
Fashion Network
29-04-2025
- Business
- Fashion Network
Warpaint London goes from strength to strength in latest year
Record sales and profits in 2024 at an improved margin and a solid start to 2025: welcome to the bright, shiny world of Warpaint London. The specialist colour cosmetics supplier and owner of the W7, Technic, Skin & Tan, Super Facialist, Dirty Works and Fish Soho brands had much to celebrate Tuesday (29 April). Revenues for the year to 31 December grew 13% to £101.6 million as EU revenue increased 22% to £54.7 million, UK revenue rose 8% to £35 million, and US revenue increased 19% (up 22% in US dollar terms) to £8.7 million. Meanwhile, direct online sales 'continue to grow significantly', up 35% in 2024 to £8.4 million, accounting for 8.3% of group sales, up from 6.9% in the previous year. Adjusted pre-tax profit jumped 33% to £24.2 million, with the gross profit margin hitting 39.9%, up 130bps. And all this 'despite the challenging macroeconomic environment' it noted. And how was this achieved? 'Warpaint's consistent and focused strategy of ensuring its branded products are sold through an ever-expanding network of large retailers globally, by gaining more space within these retailers, entering relationships with new ones and increasing the group's online sales presence', it said. UK product expansion included its full range of Technic products launched in an initial 202 Morrisons supermarket stores; further expansion with Boots, with an over fourfold increase in retail space; a further rollout with Superdrug; and expansion with supermarket giant Tesco. In the US, the company expanded its W7 range, rolling out to a further 387 stores run by CVS, on top of a 'significant order" received from Walmart, for W7 and Chit Chat product, and 'significant expansion' with Five Below. Other highlights included the completion of the Brand Architekts acquisition in February, adding a portfolio of health, beauty and personal care brands to the group, including the aforementioned Skin & Tan, Super Facialist, Dirty Works and Fish Soho, sold throughout the UK and internationally. 'The integration of Brand Architekts into the group is progressing well and the Warpaint directors continue to believe that the acquisition will be earnings enhancing in the year ending 31 December 2025', it noted. For good measure, chairman Clive Garston added: "The board expects the group performance to remain strong and for sales and profits to continue to grow over the remainder of 2025 and beyond." And what about those US tariffs? '[They're] having an impact on our US business, Garston said, 'but the US remains a modest part of the group's overall business, and with significant growth opportunities elsewhere and strategies in place to mitigate their effect, we do not expect tariffs to have a material impact on the financial performance in 2025. "Accordingly, the board's expectations for the financial performance in 2025 are unchanged [with] sales and profits to continue to grow over the remainder of 2025 and beyond.'
