Supreme Plc (SUP.L), a manufacturer and distributor of FMCG goods, Monday said in its trading update for the year ended March 31 that annual results are expected to be significantly ahead of market expectations, helped by strong vape sales, acquisitions, and new products.
The company expects revenue to rise 15 percent to around 265.0 million pounds from last year's 231.1 million pounds, with Adjusted EBITDA of about 40.6 million pounds, compared to last year's 40.5 million pounds. This is higher than market expectations of 245 million pounds in revenue and 37 million pounds in EBITDA.
According to Supreme Plc, vaping sales are expected to grow over 10 percent despite the UK disposable vape ban, which is effective from June 1. The Drinks & Wellness segment also performed well, helped by the SlimFast acquisition and investment in two new manufacturing facilities.
On the LSE, SUP.L ended Friday's trading at 142.00 pence, down 1.4 percent.
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