Warpaint London plc (LON:W7L; OTCQX: WPNTF), the specialist supplier of colour cosmetics and owner of the W7 and Technic brands, has announced that Sam Bazini, chief executive officer and co-founder, will present live at the Small-Cap Growth Virtual Investor Conference hosted by VirtualInvestorConferences.com on 13 June 2024 at 10.00am Eastern time (3.00pm BST).
This will be a live, interactive online event where investors are invited to ask the Company questions in real-time. If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available after the event. The event may be accessed via the following link: https://bit.ly/44WdZwZ
It is recommended that online investors pre-register and run the online system check to expedite participation and receive event updates.
Learn more about the event at www.virtualinvestorconferences.com.
Warpaint Q1 2024 Highlights (as announced on 24 April 2024)
· Continued strong trading in Q1 2024, with unaudited Group sales for the three months to 31 March 2023 of £23.5 million an increase of 28% on the same period in 2023
· Gross margin in Q1 was robust and better than that achieved for full year 2023
· Maintained a strong balance sheet, with no debt. Cash balances as at 2 April 2024 totalled £7.5 million after investment in a significant increase in stock to satisfy expected demand later in the year (31 March 2023: £8.5 million)
· Continuing brand sales momentum being seen in 2024, both internationally and the UK, including:
o In the US:
- Q1 2024 expansion into CVS in the US already implemented, expanding the W7 range stocked and roll-out to a further 387 stores
- Significant Christmas order received from Walmart, for W7 and Chit Chat product and in discussions to stock the Group’s all-year-round product
- Significant expansion planned with Five Below during H1 2024, including the stocking of an increased range of W7 product in all 1,544 of their stores, with a further 225+ Five Below stores expected to open in the next 12 months stocking W7 products
o In the UK:
- In March 2024, a full range of Technic products was launched in an initial 202 Morrisons stores
- Expansion to a further 100 Boots stores during April 2024 with additional W7 products stocked in existing and newly added stores
- Further rollout with Superdrug planned for July 2024, into a further 63 stores, taking the number of Superdrug stores served to 134, and an increase in the products stocked across all these stores
o Further range and store expansions planned with other existing customers including Etos, Normal, Tesco, The Range and Wibra, together with launches with a number of significant new customers
