Supreme flags record full-year financial performance

24th Apr 2024 13:19

(Sharecast News) - Consumer goods specialist Supreme announced a record financial performance for the year ended 31 March in a trading update on Wednesday.

The AIM-traded firm flagged organic revenue and profit growth across all of its divisions, nearly doubling its profitability year-on-year and ending the year debt-free.

It said it expected to report full-year revenue of £225m, up from £155.6m year-on-year, and Adjusted EBITDA of at least £38m, rising from £19.4m and aligning with current market expectations.

Supreme said its strategic investments in rechargeable pod system vaping devices, coupled with its diverse vape product mix, positioned it to adapt to shifts in the UK e-cigarette market.

Additionally, it said it remained committed to driving organic growth, strategic cross-selling, and exploring complementary acquisition opportunities to diversify and scale the business further.

The group's sports nutrition and wellness, lighting, and batteries divisions also demonstrated profitability and resilience.

Its board said it was confident in the group's future prospects.

The company's audited financial results for the period would be announced on 2 July.

At 1243 BST, shares in Supreme were up 3.33% at 125.55p.

Reporting by Josh White for Sharecast.com.