REG - Supreme PLC - Trading Statement & Notice of Results

SupremeAnnouncement

18/10/2023 07:00

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RNS Number : 4492Q  Supreme PLC  18 October 2023

18 October 2023

 

Supreme plc

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

 

Trading Statement

and

Notice of Results & Investor Presentation

 

Strong trading across all divisions for H1 2024 and record revenue and profit
growth for the Group

 

Supreme (AIM: SUP), a leading manufacturer, supplier, and brand owner of
fast-moving consumer products, provides a trading update for the six months
ended 30 September 2023 ("H1 2024" or the "Period").

 

The Board is delighted with the Group's performance across the Period, with
trading in line with the Group's expectations(1) for the year ending 31 March
2024, which were significantly upgraded on 26 September 2023 to revenue of
around £195 - £205 million and Adjusted EBITDA (1) of approximately £28 -
30 to million.

 

The Group expects to report a record performance for the Period, with revenues
in excess of £100 million (H1 2023: £67.6 million) and Adjusted
EBITDA(2) of no less than £15 million (H1 2023: £8.1 million).

 

The Elf distribution opportunity has exceeded initial expectations(3) and
contributed to around half of the reported revenue and gross profit growth in
the Period. The remainder has come from the Group's four other categories that
have, without exception, all reported strong revenue and gross profit growth.

 

Separately, the Group has today announced a series of proactive measures
relating to the packaging, flavouring, recycling and point of sale checks
within its vaping category, which management believes should be adopted across
the sector.  A copy of the announcement is available
at: https://investors.supreme.co.uk/regulatory-announcements/
(https://investors.supreme.co.uk/regulatory-announcements/) .

 

Notice of Results & Investor Presentation

 

Supreme will report its interim results for H1 2024 on Tuesday, 28 November
2023.

 

Management will be hosting a presentation for investors in relation to the
Company's results on Tuesday, 28 November 2023 at 2pm BST.

 

·   The online presentation is open to all existing and potential
shareholders.

·   Questions can be submitted during the presentation and will be
addressed at the end.

·   To register for the event, please go to
https://www.equitydevelopment.co.uk/news-and-events/supreme-investor-presentation-28november2023
(https://www.equitydevelopment.co.uk/news-and-events/supreme-investor-presentation-28november2023)

 

The information contained within this announcement is deemed to constitute
inside information as stipulated under the Market Abuse Regulation (EU) No.
596/2014 which is part of UK law by virtue of the European Union (withdrawal)
Act 2018. Upon the publication of this announcement, this inside information
is now considered to be in the public domain.

 

(1      )Company compiled analyst Adjusted EBITDA(2) consensus for the
year ending 31 March 2024 prior to release of this announcement was £29
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.

(3)       Current guidance for the Elf opportunity is around £40
million of revenue and around £4 million of Adjusted EBITDA(2).

 

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 / Samuel Littler

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

 Mark Whitmore / Marie Moy / 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, Tesco, Sainsburys, Morrisons, Amazon, The Range,
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, Black & Decker 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 via its principal brands
Sci-MX and Battle Bites.

 

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

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