AGM Statement

RNS Number : 5051Z

Supreme PLC

15 September 2022

 

15 September 2022

Supreme plc

("Supreme," the "Company" or the "Group")

AGM Statement

Supreme (AIM:SUP), a leading manufacturer, supplier, and brand owner of fast-moving consumer products, provides an update ahead of its Annual General Meeting ("AGM") at 8.00 a.m. today.

At the meeting, Paul McDonald, Chairman of Supreme, will make the following statement:

"Supreme delivered a strong performance across the year ended 31 March 2022, underpinned by organic growth across our leading divisions, as well as acquiring highly complementary businesses. We have continued to develop an extensive network of loyal customers across the retail space, and we are delighted with the progress we have made in increasing our retail penetration, alongside the positive impact of recent brand and product launches.

Trading for the current financial year remains in line with market expectations, with the business well-placed to deliver on our strategic aspirations, supported by the recent acquisitions of vaping business Liberty Flights Limited ("Liberty Flights") and the purchase of trade and assets of Cuts Ice Limited ("Cuts Ice") and Flavour Core Limited ("Flavour Core").

Our fast-growing Vaping category continues to underpin the Group's growth. Alongside the continued strong performance of our 88vape brand, including new customer wins across grocery and convenience retail, we remain committed to evolving our Vaping segment as evidenced with the acquisitions of Liberty Flights in June 2022, and Cuts Ice and Flavour Core in August 2022. Highly complementary and immediately earnings enhancing, the two transactions will deliver scale to the Group and are projected to generate additional cross-sell opportunities, whilst the integration of Cuts Ice will enable us to focus on expanding our European footprint, an integral component of our overarching growth strategy.

The rest of the Group continues to perform in line with expectation and the overhead base continues to be tightly managed.

As the UK Government and global health experts continue to endorse vaping as an effective smoking cessation tool, Supreme recognises the significant role the Group will play in supporting a tobacco free UK by continuing to offer both credible and safer alternatives for nicotine consumption. By delivering great value, high quality products to market via our extensive distribution network, we remain well-placed to help mitigate the impact of the cost-of-living crisis on consumers.

Looking ahead, we continue to explore additional M&A opportunities to complement the Group's organic growth, and the Board remains confident in Supreme's strategic ambitions, underpinned by the exciting prospects within Vaping."

Enquiries:

Supreme plc Sandy Chadha, Chief Executive Officer Suzanne Smith, Chief Finance Officer	via Vigo Consulting
Grant Thornton UK LLP (Nominated Adviser) Samantha Harrison / Harrison Clarke / Daphne Zhang / Samuel Littler	[phone]
Berenberg (B roker ) Chris Bowman / Mark Whitmore / Mara Grasso	[phone]
Vigo Consulting (Financial Public Relations) Jeremy Garcia / Kendall Hill [e-mail]	[phone]

About Supreme

Supreme supplies products across five key categories; batteries, lighting, vaping, sports nutrition & wellness, and branded household consumer goods. The Company's capabilities span from product development and manufacturing through to its extensive retail distribution network and direct to consumer capabilities. This vertically integrated platform provides an excellent route to market for well-known brands and products.

The Group has over 3,300 active business accounts with retail customers who manage over 10,000 branded retail outlets. Customers include B&M, Home Bargains, Poundland, The Range, Sports Direct, Londis, SPAR, Costcutter, Asda, Halfords, Iceland and HM Prison & Probation Service.  

In addition to distributing globally-recognised brands such as Duracell, Energizer and Panasonic, and supplying lighting products exclusively under the Energizer, Eveready and JCB licences across 45 countries, Supreme has also developed brands in-house, most notably 88Vape and has a growing footprint in Sports Nutrition and Wellness.

vww. investors.supreme.co.uk

 

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