Vaping, vitamins boost Supreme revenue to £122m

Supreme plc CEO Sandy Chadha

Manchester-based consumer products firm Supreme plc, which went public in February, said on Tuesday its revenue rose 33% to £122.3 million in the year ended March 31, 2021, and adjusted profit before tax rose 21% to £16.4 million.

Supreme said its strongest sales growth was generated in its two highest margin categories — as vaping enjoyed 36% revenue growth and Sports Nutrition & Wellness showed 38% growth.

Revenue for vaping was £39.5 million, revenue for batteries was £34.4 million, revenue for lighting was £25.9 million, revenue for branded household consumer goods was £15.5 million and revenue for Sports Nutrition & Wellness was £6.9 million.

On dividends, Supreme said: “As highlighted at the time of our IPO, we intend to pay dividends to shareholders in an aggregate annual amount equivalent to approximately 50% of net profits, retaining the balance of earnings from operations to finance our future expansion.

“Our dividend payments are expected to be split into a one third interim dividend and a two thirds final dividend and we expect to declare our first interim dividend following the publication of our interim results for the six-month period to 30 September 2021.”

Supreme CEO Sandy Chadha said: “Having successfully completed our IPO on the London Stock Exchange and delivering a record financial performance in the year ended 31 March 2021, the business is ideally placed for ongoing sustainable growth.

“We continue to invest in launching new products, as well as expanding both our manufacturing and distribution capabilities whilst maintaining a well-managed cost base

 “We have made an encouraging start to the current financial year with strong demand across all our divisions.

“Our vaping segment continues to be a key profit driver, as we seek to expand our market share through our B2C online offering, and our Sports Nutrition & Wellness category is poised for expansion following the launch of our Sea Lions and Millions & Millions vitamins brands and the acquisition of the brands and stock of Sci-MX Nutrition.

The board and management of Supreme continue to monitor the COVID-19 situation very closely but remain confident in the outlook for the business for the current financial year and beyond.”

 

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