Consumer products group confirms trading in line for six month period
Supreme, the Stretford-based manufacturer, supplier, and brand owner of fast-moving consumer products, said trading in the six month period ended September 30, 2022, has been in line with expectations for the year to March 31, 2023.
The board said it is pleased with the group’s performance across the six month period, with its vaping division, a significant profit driver for the group, continuing its strong growth trajectory across the period, driven by a combination of both organic and recent acquisitive momentum.
As previously flagged, the lighting category slowed down during the period in line with the slow down across the market.
The early indications of recovery evidenced in retail sales across September and October reaffirm the temporary nature of this slow down.
The remainder of the group remains profitable, resilient and highly cash generative.
The board said it remains positive about the group’s future growth prospects, with Supreme focusing on delivering organic growth while fully integrating its recent vaping acquisitions.
Supreme, headed by chief executive, Sandy Chadha, said it has both the strong operational foundations and a clearly defined growth strategy in place to further increase its retail footprint across the group’s leading categories and continue to capitalise on the fast-growing transition from tobacco to vaping.
The company said it will report its interim results for the six months to September 30, 2022, on Tuesday, November 29, 2022