UK's Supreme surges on upbeat FY23 outlook
17/04/2023 09:51
** Shares of Supreme Plc SUP.L jump as much as 11.7% to
110p, their highest since Jan. 30
** The manufacturer and supplier of fast-moving consumer
products sees FY23 revenue of at least 150 mln pounds ($186 mln)
and adjusted EBITDA of at least 19.3 mln pounds
** Co's outlook ahead of current market expectations of 138
mln pounds and 18.5 mln pounds, respectively
** Expects FY24 trading to be slightly ahead of current
market expectations of revenue of 150.5 mln pounds and adj
EBITDA of 22.2 mln pounds
** Co says it performed strongly throughout second half of
FY23, boosted by earnings from two vaping acquisitions completed
in the first half
** Co says FY revenues from its vaping category nearly
doubled to around 75 mln pounds in FY23
** Including session's gains, stock up ~11% YTD
($1 = 0.8065 pounds)
(Reporting by Aby Jose Koilparambil in Bengaluru)
((abyjose.koilparambil@thomsonreuters.com))