Warpaint has delivered maiden results for 2016 ahead of expectations due to W7 continuing to grow sales strongly and a slightly better gross margin. This led to proforma adj. PBT of £6.7m (vs SSL’s £6.4m) on sales of £27.0m (£26.5m) and adj. EPS (8.6p vs 7.9p), the final dividend (1.5p vs 1.2p) and net cash (£3.5m vs £3.0m) all being better than forecast. We have upgraded our EBITDA forecasts for 2017 and 2018 and on the back of increased cash flow fo
10 May 2017
Increased TP on back of maiden results
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Increased TP on back of maiden results
Warpaint London PLC (W7L:LON) | 435 21.8 1.2% | Mkt Cap: 336.1m
- Published:
10 May 2017 -
Author:
Robert Sanders -
Pages:
12
Warpaint has delivered maiden results for 2016 ahead of expectations due to W7 continuing to grow sales strongly and a slightly better gross margin. This led to proforma adj. PBT of £6.7m (vs SSL’s £6.4m) on sales of £27.0m (£26.5m) and adj. EPS (8.6p vs 7.9p), the final dividend (1.5p vs 1.2p) and net cash (£3.5m vs £3.0m) all being better than forecast. We have upgraded our EBITDA forecasts for 2017 and 2018 and on the back of increased cash flow fo