Warpaint London success story continues, upgrades profit forecast

By

Sandra Halliday

Published
Jan 12, 2024

​Value-focused beauty specialist Warpaint London had a good 2023 and its unaudited figures for the year show sales and profits at the owner of the W7 and Technic brands beating its forecast.

Back in November it said it had expected to see sales of “at least” £85 million, up from £64.1 million a year earlier. But it said Friday that “following continued strong trading in Q4 2023, the company is pleased to report sales for the full year have exceeded previous expectations and are approximately £89.5 million”.

Its gross product margin also “remains robust and continues to be at a level in excess of that achieved in 2022”.  

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The company sells its products through a variety of retailers, including major supermarkets as well as large specialist store chains. And it’s clearly been hitting the mark in all of those locations. 

What this all means is that it now expects to report profit before tax of not less than £18 million, which is a massive leap from the £7.7 million reported in the previous year. It’s also ahead of current market expectations and ahead of its November guidance of profits “in excess of £16 million”.

We won’t know the final figures, however, until the spring as its full-year audited results aren’t due for release until April.