Shares in Warpaint London PLC (AIM:W7L) fell 5% in the first hour of trading on Tuesday, as investors took profits following a strong rally ahead of the group's full-year results.
The colour cosmetics specialist reported record sales and profits for 2024, with revenue up 13% to £101.6 million and adjusted pre-tax profit rising 33% to £24.6 million. Gross profit margins improved to 41.2%, and earnings per share increased 29% to 23.5 pence.
A final dividend of 7.5 pence has been recommended, taking the total payout for the year to 11 pence, a rise of 22%.
Sales momentum continued into 2025, with group revenue up 14% in the first quarter. Margins also improved compared with the previous year.
The company completed its acquisition of Brand Architekts in February, adding health, beauty and personal care brands to its portfolio.
Warpaint said it remained confident of delivering sales and profit growth in line with previous expectations.
The shares, up around 12% in the five trading days before the numbers, fell 18p to 387p.