Cosmetics company beats sales expectations by "at least" £3m

A UK cosmetics company has announced that its sales are on track to beat expectations by more than £3m.

Warpaint London, which owns the W7 and Technic brands, has revised its full year sales predictions from £37m to “not less than” £40m.

The company said that it saw “stronger than previously anticipated” trading in the second half of the year, with its products being stocked in Tesco supermarkets from November 2020.

It also anticipates that its profit from operations for the period will be more than £2.2m, at least 10 per cent ahead of the earlier forecast of £2m.

In today’s announcement, Warpaint London said: “As a result of stronger than previously anticipated trading in the second half, the board now expects sales for the year ended 31 December 2020 to be not less than £40m. This is ahead of the board’s expectation of sales of at least £37m.

“The company is also pleased to announce that following successful initial sales of a range of 15 W7 cosmetics products in 209 Tesco Express stores from November 2020, these products will now be stocked in a further 469 Tesco Express stores starting at the end of February 2021.”