THE WHAT? Warpaint has achieved record first half sales of £36.7 million in the six months to June 30, 2023. The London-based color cosmetics supplier reported a 46 percent rise yoy, with UK revenue up 28 percent and international revenue climbing 58 percent versus the prior-year period.
THE DETAILS Gross profit margin grew to 39.1 percent, the owner of W7 and Technic said, thanks to its successful management of continued supply side inflation. Growth was significant across both brands and all geographic areas.
THE WHY? Sam Bazini Chief Executive, explains, “I am delighted with the Group’s continuing strong performance in the first half of 2023, with a record level of sales and profits delivered. I believe the Group is very well positioned to achieve further growth and I remain confident that margins can be maintained going forward.
“Warpaint is a global business with the capacity, expertise and strategy, coupled with balance sheet strength, to drive future growth from both our existing and new customers. While we continue to experience good growth in the UK, I am particularly pleased with the growth we are seeing in Europe and the US. As in previous years, the Group’s sales are expected to remain second half weighted, reflecting Christmas seasonal sales as well as ongoing momentum.”