reports
- Mike Jeremy
Supreme plc - AGM statement: momentum maintained
In a statement to accompany today’s AGM, Supreme reports that the Group has “continued to see good momentum across its portfolio in the first half of the current financial year” (H126). The Group highlights the combination of strong recent (FY25) financial performance and strategy of complementary acquisitions. On changes in the UK market for vaping products, Supreme reports that it “continues to successfully navigate the evolving UK vaping market, having strategically managed the ban on dispos...
- Charlie Williams
Supreme (SUP LN) - Momentum continues - Corporate
Supreme continues to successfully navigate the challenging consumer backdrop and regulatory changes in the UK Vaping market whilst ensuring the integration of its recent acquisitions remain on track. Today’s AGM statement confirms momentum seen during FY25 has continued so far into H1-2026 and the Group remains in line with full year expectations. In a time where consumer discretionary income remains stretched, Supreme’s value proposition across a broad range of repeat-purchase FMCG categories r...
- Mike Jeremy
Supreme plc - Acquisition of household cleaning brand 1001®
Supreme has announced the acquisition of the carpet care products brand 1001 for a fixed consideration of £1.65m (of which £0.35m is deferred) from US-based WD-40 Company. 1001 reported current revenue of £4.5m, having recorded peak turnover of £8.0m. The acquisition is expected to be immediately earnings-accretive and maintains the pace of product diversification and enhancement of the range of offerings within its household goods range, further counterbalancing the contribution from vaping pro...
- Charlie Williams
- Rachel Birkett
Supreme (SUP LN) - Acquisition of 1001 carpet care brand - Corporate
Supreme has announced the bolt-on acquisition of the renowned British carpet care brand, 1001, for total fixed consideration of £1.65m (0.4x sales) and up to £3.0m for contingent consideration and c. £1.0m for inventory. The acquisition is expected to be immediately earnings accretive, often a pre-requisite for Supreme, and should provide good cross selling opportunities at low incremental cost into Supreme’s vast distribution network of 40,000 retail outlets. Zeus leave FY26 revenue and profit...
- Mike Jeremy
FY25 another strong year and platform for growth
For the year to 31 March 2025 Supreme reported revenue of £231.1m, +4%YoY, (ED est £235.1m), gross profit (including forex) of £73.7m, +16%YoY (ED est £72.3m), and (adj.) EBITDA of £40.5m, +6%YoY (ED est £40.0m). Top line growth was propelled by the acquisition of Clearly Drinks and Typhoo Tea, further diversifying the portfolio as the Group adjusted to the ban on disposable vapes which was implemented on 1 June. EPS (adj.) for the year was 20.1p (ED est 20.1p). Acquisitions to the value if £25...
- Charlie Williams
- Rachel Birkett
Supreme (SUP LN) - Another year of record performance - Corporate
Supreme has delivered another year of record performance with adj. EBITDA growing 6% to £40.5m, ahead of revenue growth at 4% to £231.1m, underpinned by accretive M&A, improved manufacturing efficiencies and good underlying growth in key segments. The Group ended the year with net cash (excl. leases) of £1.2m despite spending £25.6m on M&A and returning £5.8m to shareholders via dividends, highlighting the impressive cash generation of the Group through its vertically integrated business model. ...
- Mike Jeremy
Strong trading shows benefit of diversified portfolio
In a Trading Update for the year to 31st March 2025, Supreme reports that the Group traded strongly, supported by acquisitions and underpinned by cost management. Supreme expects FY25 revenue of c.£235.0m and (adj.) EBITDA of “at least” £40.0m; they also expect FY26 (adj.) EBITDA in line with market expectations. Supreme notes development of a number of new sales opportunities following from the acquisition of Clearly Drinks (June 2024), accessing the soft drinks sector, and Typhoo Tea (Decembe...
- Charlie Williams
- Rachel Birkett
Supreme (SUP LN) - Record revenue in FY25 - Corporate
FY25 trading update: Supreme has released a trading update for the twelve months to 31 March 2025 confirming solid trading through the year. Record revenue of ~£235.0m is +6.3% YOY (FY24: £221.2m) supported by strategic acquisitions completed in the period. This is 2.0% below previous guidance (issued November 2024) and Zeus forecast of £240.0m due to softer trading in the discounter channel, partly offset by contribution from the Typhoo Tea acquisition (Dec 2024). Strong cost control means Adj....
- Mike Jeremy
Acquisition of Typhoo Tea for £10.2m
Supreme PLC has acquired the trade and selected assets of Typhoo Tea out of administration for a total cash consideration of £10.2m, including Typhoo’s stock and trade debtors with a book value of £7.5m. For the year to 30th September 2024 Typhoo generated revenue of c.£20.0m, and a pre-tax loss of c.£4.6m. Supreme estimates that the acquisition will boost the annualised contribution from non-vape revenue to c.50% of total, and with full integration into Supreme’s cap-ex-light out-sourced manuf...
- Mike Jeremy
H1 25: margin improvement and FY25 outlook raised
For the six months to 30 September 2024, Supreme reported healthy revenue growth of +8%YoY (£113m) based on both ongoing business and the acquisition of Clearly Drinks Ltd., with (adj.) EBITDA +22%YoY at £18.5m, underpinned by gross margin improvement +299bp to 29.6%. The (adj.) EBITDA margin was 16.3%, compared to 14.5% a year earlier. The improvement in profitability underlines Supreme’s breadth of market position and depth of expertise in the distribution of a wide range of household goods. T...
- Rachel Birkett
Supreme (SUP LN) - Interim results - Corporate
Resilient H1 trading: Revenue of £113.0m is +7.6% YOY (H1 FY24: £105.1m) underpinned by growth in non-vaping categories and the acquisition of Clearly Drinks Limited. Adj. EBITDA of £18.5m is +21.6% (H1 FY24: £15.2m) driven by higher gross margins across all categories, including a 400bps improvement in Branded Distribution GM and the positive mix effect of the new Soft Drinks category (40% GM), as well as tight control of overheads. Supreme remains debt free with net cash (excluding lease liabi...
- Rachel Birkett
Audio Note: Supreme - AGM Statement
In this audio note, Zeus’ Rachel Birkett summarises the investment case for Supreme. Supreme’s strong FY24 trading momentum, reported in July, has continued in to the first half of the current financial year and the Group remains in-line with full year expectations.
- Mike Jeremy
AGM statement affirms market momentum
In a statement to accompany today’s AGM, Supreme PLC Chairman Paul McDonald noted “record organic revenue and profit growth” for the year to 31 March 2024. The Group also closed the year debt-free. Subsequently, the Group has continued to build on positive trading momentum into H1 25, and, following a solid start, expects FY25 performance to be in line with market expectations. Inclusive of the acquisition of Clearly Drink, Supreme reports that annualised sales from non-vaping products are expe...
- Rachel Birkett
Supreme (SUP LN) - AGM Statement
Positive momentum, trading in-line with expectations: Today’s update confirms Supreme’s strong FY24 trading momentum, reported in July, has continued in to the first half of the current financial year and the Group remains in-line with full year expectations. The Group continues to see strong demand for its products, with its value proposition remaining highly relevant at a time when household discretionary spend remains under pressure.
Hybridan Small Cap Feast - 2 July 2024
2nd July 2024 * A corporate client of Hybridan LLP ** Arranged by type of listing and date of announcement *** Alphabetically arranged **** Potential means Intention to Float (ITF) has been announced, or it is a rumour Dish of the day Admissions: Delistings: What’s baking in the oven? ** Potential**** Initial Public Offerings: ITF announced: 19 June 2024: IntelliAM, an artificial intelligence company focused on the consumer goods industry, is preparing to list on the Aquis Exchange on 3 July. Th...
- Mike Jeremy
FY24 results generate doubled profit, record cash
For the year to 31 March 2024 Supreme reported revenue of £221.2m, +42%YoY, (adj.) EBITDA of £38.1m, +97%YoY and (rptd). PBT of £30.1m, +109%YoY. Net cash from operations grew 40%YoY to £27.1m, with year-end net cash1 of £11.6m (FY23: £3.2m). (adj.) diluted EPS was 18.19p/share (ED E, 20.2p). We see strong performance at gross level, +55%YoY with margin improvement from 26.3% to 28.7%. The Group has made timely preparation for the transition to traditional refillable, rechargeable e-cigarettes...
- Rachel Birkett
Supreme (SUP LN) - Record FY24 results
Supreme has delivered a record performance, underpinned by robust profitable growth across all divisions; revenue of £221.2m is +42% YOY with adj. PBT more than doubled to £32.3m. Supreme is now bank debt free, with £11.6m net cash (ex-leases) despite completing seven acquisitions and returning more than £16m to shareholders over the past four years. It has well invested operations, underpinned by its new 167k sq. ft. Ark facility, whilst the recent acquisition of Clearly Drinks adds a further h...
Hybridan Small Cap Feast - 24 June 2024
24th June 2024 * A corporate client of Hybridan LLP ** Arranged by type of listing and date of announcement *** Alphabetically arranged **** Potential means Intention to Float (ITF) has been announced, or it is a rumour Dish of the day Admissions: Delistings: TUI AG (TUI.L) has left the Premium Segment of the Main Market. Bens Creek Group (BEN) has left AIM. What’s baking in the oven? ** Potential**** Initial Public Offerings: ITF announced: 19 June 2024: IntelliAM, an artificial intelligence co...
- Mike Jeremy
Acquisition of Clearly Drinks
Supreme has announced the acquisition of Clearly Drinks Ltd., for a total net cash (debt free) consideration of £15m, funded from cash. Clearly Drinks is a manufacturer of specialised canned and bottled-at-source spring water and soft drinks with FY23 annual turnover of £22m and EBITDA of £3.0m. This is a significant diversification, which increases the FY25E contribution from non-vaping revenue streams from £85m (38% of total) to £100m (42%). The acquisition of Clearly creates a new Supreme Bu...
- Rachel Birkett
Supreme (SUP LN) - Acquisition of Clearly Drinks
Supreme has announced the acquisition Clearly Drinks Limited, a brand owner and manufacturer of canned and bottled soft drinks, introducing an additional and highly complementary FMGC category to Supreme’s portfolio. The transaction is immediately earnings enhancing, with total consideration of £15.0m paid in cash.
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