Supreme delivers 'strong' FY results, EBITDA nearly doubles

2nd Jul 2024 08:55

(Sharecast News) - Consumer products manufacturer Supreme delivered "strong" full-year trading results on Tuesday as underlying earnings nearly doubled year-on-year.

Supreme said adjusted EBITDA was up 96% on FY23 at £38.1m in FY24, while adjusted pre-tax profits were 102% higher at £30.7m. Earnings per share surged 85% to 19.1p.

The AIM-listed firm also reported a 42% improvement in annual revenues to £221.2m and gross profits of £63.5m, up 55% year-on-year. Gross profit margins improved from 26% to 29%.

Additionally, Supreme declared a final dividend of 3.2p per share, subject to shareholder approval at its next annual general meeting on 24 September.

Looking ahead, Supreme expects FY25 to be "another profitable and highly cash-generative year", having made a "positive start" in Q1 and trading "comfortably" in line with current expectations.

Chief executive Sandy Chadha said: "Supreme has delivered an outstanding financial performance across the Period, with strong revenue growth across all five of our divisions.

"Set against a challenging backdrop, we continue to be committed to providing high-quality, high-value products to both retailers and our customers."

As of 0850 BST, Supreme shares were down 2.96% at 173.70p.

Reporting by Iain Gilbert at Sharecast.com