LONDON, June 07, 2024 (GLOBE NEWSWIRE) -- Warpaint London plc (AIM: W7L; OTCQX: WPNTF), the specialist supplier of colour cosmetics and owner of the W7 and Technic brands, announces that Sam Bazini, chief executive officer and co-founder, will present live at the Small-Cap Growth Virtual Investor Conference hosted by VirtualInvestorConferences.com on 13 June 2024 at 10.00am Eastern time (3.00pm BST).

This will be a live, interactive online event where investors are invited to ask the Company questions in real-time. If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available after the event. The event may be accessed via the following link: https://bit.ly/44WdZwZ

It is recommended that online investors pre-register and run the online system check to expedite participation and receive event updates.  

Learn more about the event at www.virtualinvestorconferences.com.

Warpaint Q1 2024 Highlights (as announced on 24 April 2024)

• Continued strong trading in Q1 2024, with unaudited Group sales for the three months to 31 March 2023 of £23.5 million an increase of 28% on the same period in 2023
  
• Gross margin in Q1 was robust and better than that achieved for full year 2023
  
• Maintained a strong balance sheet, with no debt. Cash balances as at 2 April 2024 totalled £7.5 million after investment in a significant increase in stock to satisfy expected demand later in the year (31 March 2023: £8.5 million)
  
• Continuing brand sales momentum being seen in 2024, both internationally and the UK, including:
  
  • In the US:
    
    • Q1 2024 expansion into CVS in the US already implemented, expanding the W7 range stocked and roll-out to a further 387 stores
    • Significant Christmas order received from Walmart, for W7 and Chit Chat product and in discussions to stock the Group’s all-year-round product
    • Significant expansion planned with Five Below during H1 2024, including the stocking of an increased range of W7 product in all 1,544 of their stores, with a further 225+ Five Below stores expected to open in the next 12 months stocking W7 products
  • In the UK:
    • In March 2024, a full range of Technic products was launched in an initial 202 Morrisons stores
    • Expansion to a further 100 Boots stores during April 2024 with additional W7 products stocked in existing and newly added stores
    • Further rollout with Superdrug planned for July 2024, into a further 63 stores, taking the number of Superdrug stores served to 134, and an increase in the products stocked across all these stores
  • Further range and store expansions planned with other existing customers including Etos, Normal, Tesco, The Range and Wibra, together with launches with a number of significant new customers
    
    

Enquiries:

Warpaint London plc

Warpaint sells branded cosmetics under the lead brands of W7 and Technic. W7 is sold in the UK primarily to major 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, Warpaint also sells cosmetics under its other brand names of Man’stuff, Body Collection and Chit Chat, each targeting a different demographic.

About Virtual Investor Conferences®

Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly traded companies to seamlessly present directly to investors.

Providing a real-time investor engagement solution, VIC is specifically designed to offer companies more efficient investor access. Replicating the components of an on-site investor conference, VIC offers companies enhanced capabilities to connect with investors, schedule targeted one-on-one meetings and enhance their presentations with dynamic video content. Accelerating the next level of investor engagement, Virtual Investor Conferences delivers leading investor communications to a global network of retail and institutional investors.

Forward-Looking Statements

This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and legislation in the United Kingdom. These forward-looking statements are made under the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements contained herein. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, but not limited to, statements regarding the continuing brand sales momentum in 2024 and the expected expansion of the Company’s customers.

Reference should be made to those documents that Warpaint shall file from time to time or announcements that may be made by Warpaint in accordance with the London Stock Exchange AIM Rules for Companies ("AIM Rules") and the Disclosure and Transparency Rules ("DTRs") which contains and identifies other important factors that could cause actual results to differ materially from those contained in any projections or forward-looking statements. These forward-looking statements speak only as of the date of the original announcement, 24 April 2024. All subsequent written and oral forward-looking statements by or concerning Warpaint are expressly qualified in their entirety by the cautionary statements above. Except as may be required under the AIM Rules or the DTRs or by relevant law in the United Kingdom, Warpaint does not undertake any obligation to publicly update or revise any forward-looking statements because of new information, future events or otherwise arising.