Updates

Warpaint

June 2017

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

The shares have zoomed 96% higher than when I made them one of my NAPs in January. During the month Warpaint reported its maiden results with a proforma adjusted pretax profit of £6.7m on sales of £27m. Eps came in at 8.6p.The cosmetic side – which is principally eye makeup and face makeup – saw sales and gross profit both up 29% to £21.9m and £8.8m, respectively. A 40.2% margin. There was traction in the USA where those sales provided a natural hedge against a weak Sterling although Warpaint also negotiated supplier discounts and increased selling prices in January.The close out business, which purchases excess stock of named brands, recorded profit up 6% to £1.4m on flat sales ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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