Shares in Supreme PLC rose following a strong first-half performance.
Supreme PLC, a consumer-products manufacturer based in the U.K., announced on Tuesday that it expects its fiscal 2024 results to be significantly ahead of market forecasts. The company’s projected revenue for the year ending March 31 is anticipated to range from £195 million to £205 million ($238.1 million-$250.3 million). Additionally, adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) are expected to be between £28 million and £30 million, surpassing market expectations by £3.5 million. Supreme attributes these positive estimates to its record profitable growth in the half year to September.
Supreme looks forward to the contribution of the distribution of Elf and Lost Mary vaping brands in fiscal 2024, which is estimated to generate approximately £4 million in adjusted EBITDA and around £40 million in revenue. Chairman Paul McDonald expressed confidence in Supreme’s ability to deliver its strongest financial performance as a listed company during the annual general meeting scheduled for Tuesday.
At 0722 GMT, Supreme PLC’s shares were up 9.50 pence, or 9.6%, trading at 108.50 pence.
