UK's Supreme Plc jumps on upbeat FY24 outlook
26/09/2023 09:10
** Shares of Supreme Plc SUP.L rise as much as 13.6% to
112.5p
** Stock set to post best day since July 8, 2022, if trend
holds
** The maker of fast-moving consumer products including
batteries, lighting equipment, vaping and sports nutrition sees
trading in FY24 to be "significantly" ahead of market
expectations
** Co expects FY24 adj core profit of about 28 mln-30 mln
pounds ($34.1 mln-$36.5 mln) vs 19.4 mln pounds reported year
ago
** SUP expects revenue for year ending March 31 to be 195
mln-205 mln pounds, compared with 155.6 mln pounds reported in
FY23
** Chairman Paul McDonald says group remains on track to
deliver its strongest financial performance as a listed company
** Currently stock up 8%, taking YTD gains to ~10%
($1 = 0.8216 pounds)
(Reporting by Aby Jose Koilparambil in Bengaluru)
((abyjose.koilparambil@thomsonreuters.com))