Warpaint London shares in the red after update

The price shares in AIM-listed cosmetics firm Warpaint London (LON:W7L) has plunged by 26.11% to 58p (as of 15:15 BST) after it issued a profit warning for the current financial year. Management said that international growth was helping to prop up a challenging UK market, but that an adverse geographic mix and foreign exchange movements would impact profits.

The company said that overall revenues for the year ending 31st December would be around £50 million, only slightly ahead of the prior year.