REG - Supreme PLC - AGM Statement

SupremeAnnouncement

15/09/2022 07:01

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RNS Number : 5051Z  Supreme PLC  15 September 2022

15 September 2022

 

Supreme plc

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

 

AGM Statement

 

Supreme (AIM:SUP), a leading manufacturer, supplier, and brand owner of
fast-moving consumer products, provides an update ahead of its Annual General
Meeting ("AGM") at 8.00 a.m. today.

 

At the meeting, Paul McDonald, Chairman of Supreme, will make the following
statement:

 

"Supreme delivered a strong performance across the year ended 31 March 2022,
underpinned by organic growth across our leading divisions, as well as
acquiring highly complementary businesses. We have continued to develop an
extensive network of loyal customers across the retail space, and we are
delighted with the progress we have made in increasing our retail penetration,
alongside the positive impact of recent brand and product launches.

 

Trading for the current financial year remains in line with market
expectations, with the business well-placed to deliver on our strategic
aspirations, supported by the recent acquisitions of vaping business Liberty
Flights Limited ("Liberty Flights") and the purchase of trade and assets of
Cuts Ice Limited ("Cuts Ice") and Flavour Core Limited ("Flavour Core").

 

Our fast-growing Vaping category continues to underpin the Group's growth.
Alongside the continued strong performance of our 88vape brand, including new
customer wins across grocery and convenience retail, we remain committed to
evolving our Vaping segment as evidenced with the acquisitions of Liberty
Flights in June 2022, and Cuts Ice and Flavour Core in August 2022. Highly
complementary and immediately earnings enhancing, the two transactions will
deliver scale to the Group and are projected to generate additional cross-sell
opportunities, whilst the integration of Cuts Ice will enable us to focus on
expanding our European footprint, an integral component of our overarching
growth strategy.

 

The rest of the Group continues to perform in line with expectation and the
overhead base continues to be tightly managed.

 

As the UK Government and global health experts continue to endorse vaping as
an effective smoking cessation tool, Supreme recognises the significant role
the Group will play in supporting a tobacco free UK by continuing to offer
both credible and safer alternatives for nicotine consumption. By delivering
great value, high quality products to market via our extensive distribution
network, we remain well-placed to help mitigate the impact of the
cost-of-living crisis on consumers.

 

Looking ahead, we continue to explore additional M&A opportunities to
complement the Group's organic growth, and the Board remains confident in
Supreme's strategic ambitions, underpinned by the exciting prospects within
Vaping."

 

Enquiries:

 

 Supreme plc                                                           via Vigo Consulting

 Sandy Chadha, Chief Executive Officer

 Suzanne Smith, Chief Finance Officer

 Grant Thornton UK LLP (Nominated Adviser)                             +44 (0)20 7383 5100

 Samantha Harrison / Harrison Clarke / Daphne Zhang / Samuel Littler

 Berenberg (Broker)                                                    +44 (0)20 3207 7800

 Chris Bowman / Mark Whitmore / Mara Grasso

 Vigo Consulting (Financial Public Relations)                          +44 (0)20 7390 0230

 Jeremy Garcia / Kendall Hill

 supreme@vigoconsulting.com

 

 

About Supreme

 

Supreme supplies products across five key categories; batteries, lighting,
vaping, sports nutrition & wellness, and branded household consumer goods.
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 3,300 active business accounts with retail customers who
manage over 10,000 branded retail outlets. Customers include B&M, Home
Bargains, Poundland, The Range, Sports Direct, Londis, SPAR, Costcutter, Asda,
Halfords, Iceland 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 and JCB licences across 45 countries, Supreme has also
developed brands in-house, most notably 88Vape and has a growing footprint in
Sports Nutrition and Wellness.

 

vww. (http://www.investors.supreme.co.uk) investors.supreme.co.uk
(https://investors.supreme.co.uk/)

 

 

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