Supreme plc, the Manchester-based supplier of vaping and fast-moving consumer goods, said results for the first half of the year put it on track to meet analyst estimates for the full year, ahead of its annual general meeting on Thursday. 

“Following a solid start in H1 2025, Supreme expects trading for the year ended 31 March 2025 to be in line with market expectations,” the company said. Analysts expect adjusted EBITDA of £37 million, on average. 

Chairman Paul McDonald said: “Supreme traded strongly across the year ended 31 March 2024, delivering record organic revenue and profit growth, and ending the year debt-free. We again saw strong consumer demand for our products, which continue to offer both high quality and value at a time when household discretionary spend remains under pressure. Pleasingly, we have continued to build on this positive trading momentum in the first half of the current financial year.”

“The earnings enhancing acquisition of soft drinks business Clearly Drinks (completed in June 2024) has accelerated our broader diversification strategy, with our teams already leveraging Supreme’s extensive UK distribution network to create additional cross-selling opportunities and expand our market footprint.”

“Post the acquisition of Clearly Drinks, non-vape annualised sales are now expected to exceed £100 million. Acquisitions continue to underpin Supreme’s growth ambitions, and the current M&A pipeline is strong with opportunities spanning multiple product verticals and markets.”

“The core lines within our Vaping category continue to perform well and we remain well positioned to comfortably manage the anticipated changes to the UK vaping market, having continued investment in rechargeable pod system vaping devices, adapted our flavour range and own-brand packaging, and ensured all retail partners enforce rigid age verification checks.”