Shares in Warpaint London PLC rose Monday after it said that it has performed strongly in 2022 so far, forecasting record sales for the first half of the year, ahead of management expectations.
Shares at 0727 GMT were up 13.0 pence, or 12% at 126.0 pence.
The U.K. cosmetics company said that it expects first-half sales to be more than 24 million pounds ($29.5 million), up from GBP18.4 million a year prior.
The company said sales growth was achieved in both the U.K. and continental Europe, with other regions in line with management expectations. Sales growth was being achieved at improved margins, it said.
Despite inflationary headwinds and continued high transport costs, Warpaint’s gross profit margin for the year to date has been higher than that achieved for the entirety of 2021, it said.
“As in previous years, the group’s sales are expected to remain second half weighted, reflecting Christmas seasonal sales, and with the group having a strong current order book, ahead of the level at this time last year, I am confident that the group will continue to perform well for the remainder of the year,” Chairman Clive Garston said.