Warpaint London Reports 17.8% H1 Revenue Drop

Warpaint London reported a challenging first half of 2026, with revenue down 17.8% to £40.5 million and profit falling to £3.6 million from £6.4 million a year earlier amid weaker consumer spending and cautious retailer orders. Despite the decline, gross margin improved to 47.3%, operating cash flow strengthened, and the group remained debt free while expanding ecommerce and integrating Barry M. Third-quarter sales are expected to rise about 5% year over year to £28.5 million, although nine-month sales are projected at roughly £69 million, below the £76 million recorded in 2025. The company expects 2026 revenue to land toward the lower end of analysts’ £103.3 million-to-£112.6 million range but anticipates a stronger, second-half-weighted performance supported by Christmas gifting, retail expansion and ecommerce. Reflecting its cash position and continued profitability, Warpaint increased its interim dividend to 4.25 pence per share, payable November 20, 2026.