Warpaint is made up of two divisions.
The largest division sells branded cosmetics under the lead brand names of W7 and Technic. W7 is sold in the UK primarily to retailers and internationally to local distributors or retail chains. The Technic brand is sold in the UK and continental Europe with a significant focus on the gifting market, principally for high street retailers and supermarkets. In addition, this division supplies own brand white label cosmetics produced for several major high street retailers. The Group also sells cosmetics using our other own brand names of Man stuff, Body Collection, Vintage, Very Vegan, and Chit Chat.
Warpaint London plc (AIM: W7L), the specialist supplier of colour cosmetics and owner of the W7 and Technic brands, is pleased to announce an update on trading for the year ended 31 December 2020. As a result of stronger than previously anticipated trading in the second half, the board now expects sales for the year ended 31 December 2020 to be not less than £40 million. This is ahead of the board s expectation of sales of at least £37 million as announced at the time of the release of the Company s interim results for the six months ended 30 June 2020 on 23 September 2020. The Company s board expects unaudited adjusted profit from operations , excluding a non-cash accounting charge on forward foreign exchange options for 2021, to now be in excess of £2.6 million. The Group imports most of its finished goods from China paid for in US Dollars and to help mitigate risk, forward foreign exchange options are en