Company Announcements

AGM Trading Statement

Source: RNS
RNS Number : 7730E
Supreme PLC
19 September 2024
 

19 September 2024

 

Supreme plc

("Supreme" or the "Company" or the "Group")

 

AGM Trading Statement

 

Positive momentum continued in H1 2025

 

Supreme (AIM: SUP), a leading manufacturer, supplier, and brand owner of fast-moving consumer goods, announces that Chairman Paul McDonald will provide the following statement at its Annual General Meeting at 9.00 a.m. today:

 

"Supreme traded strongly across the year ended 31 March 2024, delivering record organic revenue and profit growth, and ending the year debt-free. We again saw strong consumer demand for our products, which continue to offer both high quality and value at a time when household discretionary spend remains under pressure.

 

Pleasingly, we have continued to build on this positive trading momentum in the first half of the current financial year ("H1 2025").

 

The earnings enhancing acquisition of soft drinks business Clearly Drinks (completed in June 2024) has accelerated our broader diversification strategy, with our teams already leveraging Supreme's extensive UK distribution network to create additional cross-selling opportunities and expand our market footprint.

 

Post the acquisition of Clearly Drinks, non-vape annualised sales are now expected to exceed £100 million. Acquisitions continue to underpin Supreme's growth ambitions, and the current M&A pipeline is strong with opportunities spanning multiple product verticals and markets.

 

The core lines within our Vaping category continue to perform well and we remain well positioned to comfortably manage the anticipated changes to the UK vaping market, having continued investment in rechargeable pod system vaping devices, adapted our flavour range and own-brand packaging, and ensured all retail partners enforce rigid age verification checks.

 

As an industry leader, Supreme acknowledges the wider concerns of underage vaping and remains fully supportive of proposed legislative changes in the UK. Details of the proactive measures that Supreme is taking to curb underage vaping are available to read in our latest Annual Report on our website.

 

Following a solid start in H1 2025, Supreme expects trading for the year ended 31 March 2025 ("FY 2025") to be in line with market expectations1."

 

 

1 Company compiled analyst consensus for the year ending 31 March 2025 prior to release of this announcement was Adjusted EBITDA2 of £37 million

2 Adjusted EBITDA means operating profit before depreciation, amortisation, share-based payments charge, fair value movements on non-hedge accounted derivatives and exceptional items

 

Enquiries:

 

Supreme plc

Sandy Chadha, Chief Executive Officer

Suzanne Smith, Chief Finance Officer

 

via Vigo Consulting

Shore Capital (Nominated Adviser and Joint Broker)

Mark Percy / David Coaten / Rachel Goldstein - Corporate Advisory

Ben Canning - Corporate Broking

 

+44 (0)20 7408 4090

Zeus (Joint Broker)

Jordan Warburton / Alex Campbell-Harris - Investment Banking

Benjamin Robertson - Corporate Broking

 

+44 (0)161 831 1512

Vigo Consulting (Financial Public Relations)

Jeremy Garcia / Kendall Hill / Anna Stacey

supreme@vigoconsulting.com

+44 (0)20 7390 0230

 

About Supreme

 

Supreme supplies products across six categories; Batteries, Lighting, Vaping, Sports Nutrition and Wellness, Branded Distribution and Soft Drinks. The Company's capabilities span from product development and manufacturing through to its extensive retail distribution network and direct to consumer capabilities. This vertically integrated platform provides an excellent route to market for well-known brands and products.

 

The Group has over 3,000 active business accounts with retail customers who manage over 10,000 branded retail outlets. Customers include B&M, Home Bargains, Poundland, Tesco, Sainsburys, Morrisons, Amazon, The Range, Costcutter, Asda, Halfords, Iceland, Waitrose, Aldi and HM Prison & Probation Service.

 

In addition to distributing globally-recognised brands such as Duracell, Energizer and Panasonic, and supplying lighting products exclusively under the Energizer, Eveready, Black & Decker and JCB licences across 45 countries, Supreme has also developed brands in-house, most notably 88Vape, has a growing footprint in Sports Nutrition and Wellness via its principal brands Sci-MX and Battle Bites, and has recently expanded into the soft drinks market with the acquisition of Clearly Drinks, adding established brands such as Perfectly Clear and Northumbria Spring to its portfolio.

 

https://investors.supreme.co.uk/

 

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