Business
Final Results for the year ended 31 December 2019
Final Results for the year ended 31 December 2019.
About this update from Warpaint London Plc
[{"type":"text","content":"\n \n \n RNS Number : 7006M\n Warpaint London PLC\n 13 May 2020\n \n \n \n \n 13 May 2020 \n \n \n Warpaint London PLC\n \n \n (\"Warpaint\", the \"Company\" or the \"Group\")\n \n \n Final Results for the year ended 31 December 2019\n \n \n Warpaint London plc (AIM: W7L), the specialist supplier of colour cosmetics and \n owner of the W7 and Technic brands\n is pleased to announce its audited results for the year ended 31 December 2019. \n \n \n Post-Period End Highlights - Covid-19 Pandemic\n \n \n \n \n \n \n \n \n \n · \n \n \n \n \n As announced in February 2020, a core range of 100+ W7 products are being displayed in 56 Tesco stores across the UK\n \n \n \n \n \n \n · \n \n \n \n \n Prior to March 2020, current year trading was at the upper end of the board's expectations, however many of the Group's retail customers in the UK and internationally have since been impacted by the lockdown caused by the Covid-19 pandemic\n \n \n \n \n \n \n · \n \n \n \n \n The 2020 Christmas order book has continued to build despite the Covid-19 pandemic (April 2020: £6.9 million, April 2019: £7.8 million)\n \n \n \n \n \n \n · \n \n \n \n \n The focus is on the wellbeing of staff and protection of the business. Remote working has been introduced for staff and for those staff working in our offices and warehouses social distancing practices have been put in place to ensure their safety\n \n \n \n \n \n \n · \n \n \n \n \n Cash preservation measures have been implemented and discretionary spend reduction initiatives have been introduced:\n \n \n \n \n \n \n \n \n \n · Those staff not working, representing over 70% of UK staff, have been furloughed\n \n \n \n \n \n \n \n \n · With the approval from our landlords we have deferred rental payments\n \n \n \n \n \n \n \n \n ·To preserve cash resources the board has decided not to recommend the payment of a final dividend for the year ended 31 December 2019 (2018: 2.9p per share). The total dividend for the year is therefore 1.5p per share (2018: 4.4p per share)\n \n \n \n \n \n · \n \n \n \n \n Having modelled a number of scenarios, the board confirms that the Group has sufficient financial strength to withstand ongoing disruption to its activities for at least the next twelve months without the need to seek additional funds even if the current lockdown measures were ...