Warpaint London had a standout year in 2023, with its unaudited figures showcasing impressive performance. Initially projecting sales to reach at least £85 million, the beauty specialist exceeded expectations, revealing sales around £89.5 million. This success is attributed to continued strong trading throughout Q4.
The company’s gross product margin, a key indicator of profitability, not only remained robust but also exceeded the levels achieved in the previous year, indicating effective cost management and product positioning. Warpaint London distributes its beauty products through various channels, including major supermarkets and specialist store chains, evidently resonating well with consumers across diverse retail platforms.
In terms of profitability, the pre-tax profit is anticipated to be not less than £18 million, marking a substantial leap from the £7.7 million reported in the preceding year. This figure not only surpasses current market expectations but also exceeds the guidance provided in November, which indicated profits “in excess of £16 million.”
While these unaudited results provide a promising snapshot of the company’s financial health, the final audited results are slated for release in April, offering a comprehensive overview of Warpaint London’s performance and positioning in the beauty market.
