Shares in Warpaint London plc (LON:W7L) tumbled in early deals on Tuesday after a trading update saw it downgrade profit forecasts for the full year.
The cosmetics maker said in a brief update that it expected adjusted pre-tax profits of £8.25mln with revenues of £48.5mln.
READ: Warpaint London shares bloodied as UK trading weighs on profits
While the revenues squeaked just within expectations from an October update of between £48mln-£52mln, the profit forecast dropped below the previous expectation of between £8.5mln-£10mln.
The company had said in October that the level of profitability for the year would be “critically dependent” on the precise product and geographic mix of its sales as it struggled against a softening of the UK retail market into Christmas.
The update came ahead of the group’s full-year results which are due in April.
Shares were down 9.2% at 77.5p.