At the Annual General Meeting of Warpaint London plc (LON:W7L) to be held later today, Clive Garston, Chairman of the Company, will make the following statement:
“I am pleased to report that the Company continues to trade in line with expectations. So far in 2017, we have seen encouraging growth across all our sales territories worldwide, apart from Europe where sales remain similar to the corresponding period in 2016. I am particularly pleased that our sales strategy for the US, which is the world’s largest colour cosmetics market, has delivered double-digit sales growth compared to the same period last year.
We recently launched our new Very Vegan range of products and early sales, whilst modest in the context of the Group, have been encouraging. We will continue to innovate and look for further opportunities to introduce new products into our mix.
Our E-commerce strategy remains on track and is a growing contributor to the Group. Supported by celebrity endorsements, particularly through social media, we expect the importance of on-line sales to continue to grow.
I am pleased with the performance of the Group since admission to AIM in November last year. Being quoted on AIM has been a positive experience for the Company, in particular helping the recognition and development of the W7 brand globally.
We look forward to updating the market at the time of the release of our interim results in September 2017.”
