Supreme plc, the Manchester-based supplier of vaping and fast-moving consumer goods, said sales rose for the first half of the year, helped by its acquisition of Clearly Drinks.

The company said revenue rose 8% to £113 million and adjusted EBITDA rose 22% to £18.5 million, driven by higher gross margins in all categories and a continued tight control on overheads.

Sandy Chadha, Chief Executive Officer of Supreme, said: “We have experienced steady growth across our categories whilst seamlessly diversifying our portfolio through the acquisition of Clearly Drinks. Adding well-recognised and trusted brands into Supreme’s unrivalled distribution network across UK retail is central to our long-term growth strategy, and this acquisition reaffirms our ability to identify and execute quickly on M&A opportunities.”

“Looking forward, we are expecting trading to be ahead of market expectations for the current financial year and the Board is confident that Supreme is well positioned to deliver ongoing profit growth and shareholder value.”

Its revenue guidance is around £240 million and adjusted EBITDA guidance at least £40 million.