Interim Results for the six months ended 30 June 2024: A Closer Look at Warpaint London plc
Significant Growth in Sales, Margins, and Profit
London, United Kingdom / ACCESSWIRE / September 17, 2024
Warpaint London plc, the specialist supplier of colour cosmetics and owner of the W7 and Technic brands, has announced its unaudited interim results for the six months ended 30 June 2024 (“H1”). The results show significant growth in sales, margins, and profit, achieving another record first half for the company.
Let’s dive into the details of the unaudited results for the six months to 30 June 2024 compared to the same period in 2023:
Unaudited Six Months to 30 June 2024
| Metrics | 30 June 2024 | 30 June 2023 | Growth |
|---|---|---|---|
| Revenue | £45.8m | £36.7m | +25 % |
| Gross profit margin | 42.5% | 39.1% | +334bps |
| EBITDA | £12.0m | £7.3m | +66 % |
| Adjusted EBITDA* | £11.4m | £7.9m | +44 % |
| Profit from operations | £11.0m | £6.3m | +75 % |
| Basic earnings per share (EPS) | 10.37p | 6.22p | +67 % |
The highlights from the interim results include strong growth in sales, particularly in the UK and Europe, achieving a record first half. Group sales increased by 25% to £45.8 million in H1 2024. UK revenue saw a 17% increase to £15.5 million, while international revenue increased by 30% to £30.3 million. Both W7 and Technic brands saw sales growth, with gross profit margin increasing to 42.5%.
Adjusted EBITDA grew by 44% to £11.4 million and profit from operations increased by 75% to £11.0 million. The company ended the period with cash of £5.5 million, reflecting the increase in stock and corporation tax paid on account in H1, with no debt.
How Will This Affect Me?
As a consumer of Warpaint London plc’s products, the company’s strong performance in the first half of 2024 is a positive sign. It indicates the company’s ability to grow its sales, improve its margins, and increase profitability. This could potentially lead to better product offerings, improved customer service, and overall a more successful and sustainable business for you as a consumer.
How Will This Affect the World?
Warpaint London plc’s significant growth in sales, margins, and profit not only benefits consumers but also has broader implications for the cosmetics industry and the economy. A successful and thriving company like Warpaint can contribute to job creation, economic growth, and innovation within the cosmetics sector. Additionally, the company’s commitment to sustainability and ethical practices can have a positive impact on the industry as a whole, inspiring other companies to follow suit.
Conclusion
In conclusion, Warpaint London plc’s interim results for the six months ended 30 June 2024 demonstrate a strong performance and continued growth for the company. With record sales, improved margins, and increased profitability, Warpaint is poised for further success in the cosmetics industry. As a consumer, you can expect to benefit from the company’s success through better products and services. At the same time, the company’s positive performance can have wider implications for the industry and the economy, driving innovation and sustainability in the cosmetics sector.
