Warpaint London suffers Trump tariff hit to US sales

• Cosmetics group says performance will be weighted to its second half  

By JANE DENTON

Updated: 08:59 BST, 17 June 2025

Warpaint London’s US sales have suffered a ‘slowdown’ owing to President Donald Trump’s trade tariffs, weighing on the cosmetics group’s first half performance. 

The group, which supplies the likes of Boots and Tesco with cosmetics, told shareholders on Tuesday its US arm still comprises a ‘modest’ proportion of the group’s sales. 

And the low-cost cosmetics firm behind W7 and Technic said it expects its overall group sales to be ‘heavily second half weighted’, but ‘even more so than previous years’. 

Warpaint chair Clive Garston highlighted a ‘significant Christmas order book’, as well as ‘substantial growth opportunities’ and further margin improvement.

The firm said it continues to ‘trade robustly’, with sales for the six months to 30 June expected to be in the range of £50million to £52million, up from £45.9million a year ago. 

But Warpaint London’s share price fell 7.16 per cent or 32p to 415p, having slumped over 30 per cent in the last year.  

Sluggish: Cosmetics supplier Warpaint London said its US sales had suffered a ‘slowdown’

Pending approval by shareholders at the firm’s AGM today, a final dividend of 7.5p per share will be paid on 4 July to investors on the register at 13 June.

Forecasts for the year ahead remained unchanged, while Warpaint highlighted a ‘strong balance sheet, with no debt’ and £15.8million in cash on hand. 

‘There continues to be substantial growth opportunities for Warpaint and the Group is very well positioned to achieve further growth, with additional improvement in margins’, Garston said.

The group said Brand Architekts, which its acquired in February 2025, was now ‘fully integrated into the Group and is providing additional and exciting growth opportunities.’ 

Analysts at Peel Hunt said: ‘Warpaint London’s trading in the YTD has been resilient, despite being impacted by tariff headwinds and broader consumer uncertainty.’

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Warpaint London suffers Trump tariff hit to US sales

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