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Supreme guides revenue, adjusted earnings ahead of expectations

ALN

Supreme PLC shares received a boost on Monday, as it forecast both annual revenue and adjusted earnings before interest, tax, depreciation and amortisation ‘significantly ahead of expectations’.

The Manchester, England-based consumer products distributor sells batteries, lighting, vapes, sports nutrition and wellness products as well as soft drinks.

Its shares were trading 8.5% higher at 154.00 pence around midday on Monday in London.

Supreme said it expects to post a 15% increase in revenue to around £265 million for the financial year ended March 31, up from £231.1 million a year prior. The company noted analyst expectations for revenue of £245 million.

Adjusted Ebitda is seen rising to £40.6 million from £40.5 million, with analyst estimates cited at £37 million.

Supreme said its performance was supported by ‘significant growth’ in vape sales, as well as the positive impact from acquisitions new products.

‘The board remains confident in the group’s future trading prospects’, said Supreme.

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