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Supreme plc provided a trading update on 10 January 2023 for the three months ended 31 December 2022 (Q3 FY23). The Company reported that revenue and gross profit were both up 30% in Q3 FY23 compared to Q3 FY22.
| Date | 10 Jan 2023 |
| Time | 07:00:02 |
| Category | Trading updates |
| ID | 1555M |
10 January 2023
Supreme plc
("Supreme," the "Company" or the "Group")
Strong Q3 Trading
- Excellent trading performance across the Group's busiest quarter
- Trading in line with current market expectations for FY 2023
Supreme (AIM:SUP), a leading manufacturer, supplier, and brand owner of fast-moving consumer products, provides a trading update for the three months ended 31 December 2022 ("Q3 FY23").
Trading across Q3 FY23, the Group's busiest period, was up significantly compared to Q3 FY22 with revenue and gross profit up 30%.
This strong performance ensures the Group remains well placed to meet market expectations for the year ended 31 March 2023, which were increased in November 2022.
The Group's Vaping division has continued its impressive growth trajectory, delivering exceptional organic and acquisitive growth, with Liberty Flights, Cuts Ice and Flavour Core all trading well. Bolstered by its extensive retail distribution network and robust D2C capabilities, Supreme remains ideally placed to capitalise on the fast-growing demand in the vaping market.
The Group's Lighting division is showing ongoing signs of recovery, reaffirming the temporary nature of the slowdown within the category and across the market. Elsewhere, the Group's Battery division produced another consistent performance.
The remainder of the Group remains profitable and resilient.
The Company's strong Q3 FY23 performance has ensured Supreme remains well positioned for future growth, underpinning management's confidence in the Group's outlook for FY 2024. Supreme is focused on building on the significant trading momentum generated across the period to deliver on its medium-term strategic priorities.
Enquiries:
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Supreme plc Sandy Chadha, Chief Executive Officer Suzanne Smith, Chief Finance Officer
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via Vigo Consulting |
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Grant Thornton UK LLP (Nominated Adviser) Samantha Harrison / Harrison Clarke / Samuel Littler
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+44 (0)20 7383 5100 |
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Berenberg (Broker) Chris Bowman / Mark Whitmore / Mara Grasso
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+44 (0)20 3207 7800 |
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Vigo Consulting (Financial Public Relations) Jeremy Garcia / Kendall Hill |
+44 (0)20 7390 0230 |
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.