Business
UK Retail Expansion & Trading Update
UK Retail Expansion & Trading Update.
About this update from Warpaint London Plc
[{"type":"text","content":"\n \nRNS Number : 1279C Warpaint London PLC 06 February 2020 \n\n6 February 2020\n \nWarpaint London PLC\n(\"Warpaint\", the \"Company\" or the \"Group\")\n \nLeading UK Supermarket Group to Stock W7 Products\n \nTrading Update\n \nAppointment of Strategy Consultant\n \n \nWarpaint London plc (AIM: W7L), the specialist supplier of colour cosmetics and owner of the W7 and Technic brands, is pleased to provide a trading update in respect of the financial year ended 31 December 2019, together with details of certain corporate initiatives.\n \nUK Retail Expansion\n \nThe Company is pleased to announce a new collaboration with a leading UK supermarket group to sell a core range of over 100 of the Group's W7 branded products, in over 50 stores across the UK. W7 products will be displayed in bespoke free-standing display units located in the store's cosmetics aisles.\n \nThe sale of the Group's W7 branded products through this leading UK supermarket group represents a significant step forward in the Company's strategy to grow its UK market share through sales from new retail outlets for the Group. The Company is in detailed discussions with a number of other large UK retailers to stock the Group's products.\n \nTrading Update\n \nSubject to audit, the Company expects to report revenue of £49.3 million and adjusted profit before tax (excluding amortisation in connection with acquisitions, share incentive scheme costs and exceptional items, which the board expects to total approximately £2.8 million) of £5.2 million for the year ended 31 December 2019, in line with the guidance provided in the Company's trading update on 20 December 2019.\n \nThe Company expects to report its audited results for the year ended 31 December 2019 during the week commencing 20 April 2020. \n \nAppointment of Strategy Consultant\n \nThe Company is pleased to announce that Ward & Hagon Management Consulting LLP (\"Ward & Hagon\") has been appointed to provide additional strategic resource and to assist the Company in implementing its strategic growth plans. Ward & Hagon will have a particular focus on assisting the Group to access new retail channels with a view to growing its UK market share and developing its business in the USA.\n \nPaul Hagon, a N...