Warpaint London, a value-focused beauty specialist, has outperformed its sales and profit forecast for the year 2023, according to unaudited figures. The company, which owns popular brands like W7 and Technic, initially expected sales to reach a minimum of £85 million, a significant increase from £64.1 million in the previous year. However, due to strong trading in the fourth quarter, Warpaint London has reported sales of around £89.5 million, surpassing its initial expectations. Moreover, the company’s gross product margin remains strong and higher compared to the previous year.

One of the key drivers behind the success of Warpaint London is its diverse distribution channels. By collaborating with major supermarkets and large specialist store chains, the company has managed to resonate with consumers and gain a substantial market share. As a result of its impressive performance, Warpaint London now anticipates reporting a pre-tax profit of at least £18 million for the year, a significant increase from the £7.7 million reported in the previous year. This forecast not only exceeds market expectations but also surpasses the guidance provided in November, which indicated profits exceeding £16 million.

It is important to note, however, that the final audited results for the year 2023 will only be available in April. Stakeholders and investors will have to wait until then to obtain a comprehensive overview of Warpaint London’s financial performance. Despite this, the company’s success story continues to unfold as it surpasses expectations and solidifies its position as a leading beauty specialist in the industry.

Useful links:
1. Warpaint London official website
2. Understanding gross margin