Supreme hails strong year thanks to boost from vaping and sports nutrition products
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Consumer goods manufacturer Supreme will be maximising opportunities across its sports nutrition & wellness and vaping business as revenues climbed to £122m.
CEO Sandy Chadha hailed a strong year which saw turnover increase by 33% for the 12 months to the end of March 2021.
There was strong organic growth across all key categories coupled with “encouraging performances” from the recent acquisitions.
The strongest sales growth was generated in vaping with 36% revenue growth and sports nutrition & wellness with 38% revenue growth.
Adjusted pre tax profits also grew 21% to £16.4m.
Chadha said: “The management team has big ambitions to deliver sustained growth and further leverage the platform we have built at Supreme, including its status as a quoted company.
“There are clear and very exciting opportunities that exist for our business, particularly in categories like Sports Nutrition & Wellness and Vaping, and I look forward to providing further updates in due course as we capitalise on these.”
During the financial year, the company, which was joined AIM in February, secured contract with Scottish Prison Service for bespoke vaping products, completed the roll-out of 88Vape products across McColl’s estate adding a further 1,180 retail convenience stores nationwide; and expanded the sports nutrition & wellness business into protein snack bars via the acquisition of Battle Bites as well as meal replacements.
It said the current financial year “has started well,” including two new customers wins – Sainsburys, which will begin to stock 88vape in 400 stores starting in late summer and Core Communications which will supply 88vape to their network of 25,000 independent retailers.
This week Supreme also announced the launch of Sealions, a new UK health and wellness pure play e-commerce brand.
Sealions will offer a new line of affordable accessible vitamin and wellness supplements for all stages of life.
Chadha said “At Sealions we’re committed to offering an accessible vitamin brand for customers, where they can invest in their health and wellbeing at affordable prices.
“We’re the most sustainable brand in the market that’s offering vitamins at incredible prices, but produced and delivered completely plastic free. We want to make quality vitamins accessible for everyone.”