Warpaint London PLC (AIM:W7L) shares climbed 8% after it increased first-half profits more than expected, as the cosmetics group focused on increasing sales of its W7 and Technic brands around the world.
Revenues of £45.8 million were generated in the first six months of 2024, up 25%, with operating profits leaping 75% to £11 million.
UK revenue increased 17% to £15.5 million and international revenue by 30% to £30.3 million.
Gross profit margin increased to 42.5% from 39.1% a year ago, which the company put down to the launches of new product lines, savings from sourcing and volume savings, more e-commerce revenue and increased US profitability.
With cash of £6.5 million as of 1 July, the board declared an increased interim dividend of 3.5p per share, up 17%.
Chief executive Sam Bazini said the growth in sales and profits reflected "the ongoing success of the group's strategy of focusing on growing profitable sales of its branded products globally, whilst increasing overall margins".
He added: "There continues to be significant growth opportunities for Warpaint, and the group is very well positioned to achieve further growth with additional improvement in margins."
Sales are expected to be weighted to the second half, reflecting Christmas seasonal sales and ongoing sales momentum, Bazini said.