- Cosmetics company Warpaint London warned on profits and said it would split the roles of its current joint chief executives.

Sam Bazini would remain CEO while Eoin Macleod had been appointed to the newly created position of managing director, reflecting a more operational focus.

Revenue for the year through December was seen at around £50m, in line with previous guidance.

However, Warpaint London said a number of factors, including the geographic mix of its sales, currency headwinds and investments in its business had weighed on profitability.

Adjusted pre-tax profit was now seen in the range of £5.1m to £5.5m.

'Whilst the unprecedented volatility in exchange rates in recent months has had a negative impact on the profits of the company, both from a translational and margin perspective, I am pleased by our overall trading performance,' chairman Clive Garston said.

Story provided by