Shares of Warpaint London, the supplier of colour cosmetics and the W7 and Technic brands owner, are surging Tuesday after the company said earnings are set to beat market expectations.
Warpaint shares are trading at 176.5p, up 15.64% at the time of writing.Â
“Following a continuation of the improving trends seen in the first half of the year, and outlined in the company's interim results announcement on 22 September 2021, the company now expects its results for the year ending 31 December 2021 to be ahead of market expectations,” the company told investors.Â
The AIM-quoted company expects sales for the year ending 31 December to be similar to those achieved in 2019, which came in at £49.3 million. According to the company, the increase from 2020 has been driven by growth from existing and new customers. The increase is despite continuing Covid-19 related disruption during 2021.
 In addition, Warpaint's adjusted profit before tax is expected to be ahead of 2019 and current market expectations, and the performance delivered in 2020. Last year the company reported a pretax profit of £2.3 million, while in 2019, the number registered was £5.2 million.
Sam Bazini, CEO of Warpaint, said: “I am pleased to report that the encouraging trends experienced in the first half of 2021 have continued. We are continuing to see particularly strong growth in the UK, significant growth elsewhere internationally and further increases in online sales.”
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