Supreme FY trading seen ahead of consensus expectations

17th Apr 2023 12:31

(Sharecast News) - Consumer products group Supreme said on Monday that its full-year trading performance had come in ahead of consensus expectations, driven by both organic and acquisitive growth.

Supreme stated it had "performed strongly" throughout the second half of the trading year, delivering organic growth across its core business, supplemented by earnings from two vaping acquisitions completed in the first half of 2023.

As a result, the AIM-listed group now expects to report full-year revenues of at least £150.0m, up from £130.8m, and adjusted underlying earnings of at least £19.3m, down from £21.1m a year earlier but comfortably ahead of current market expectations.

Supreme also now anticipates that trading in the year ending 31 March 2024 will be "slightly ahead" of current consensus expectations of £150.5m in revenue and £22.2m in adjusted underlying earnings.

As of 1230 BST, Supreme shares were up 9.95% at 108.30p.

Reporting by Iain Gilbert at Sharecast.com