Supreme, the owner of the Sci-Mx sports nutrition brand, anticipates surpassing market expectations with its upcoming financial results.
In its latest stock-exchange filing, the UK-based FMCG company, known for its presence in the vaping, batteries, and lighting sectors, states that adjusted EBITDA for the year ending in March is projected to be around £28-30m ($34.1m to $36.5m), significantly higher than the current market assumption of £25.6m. Revenue for the same period is expected to range between £195m and £205m.
Supreme’s projected adjusted EBITDA represents a minimum 9.4% improvement compared to the previous year’s figure of £19.4m, which marked an 8% decline from the previous 12 months.
In the fiscal year ending March 2023, Supreme recorded revenue of £155.6m, reflecting a 19% increase. The lower end of the projected revenue for the 2024 fiscal year would signify an advancement of at least 25%.
The company did not provide a specific target for profit before tax, but it did highlight “record profitable growth” during the first half of 2024.
Supreme, which also offers the popular Battle Bites line of protein bars and the Millions vitamins range within its health and wellness segment, expressed confidence in its ability to expand its UK market presence and capitalize on opportunities within its own brands, private labels, and third-party offerings.
At Supreme’s annual general meeting, Chairman Paul McDonald stated, “Supreme showed strong performance in the year ending 31 March 2023, achieving significant growth in our vaping business and solid organic growth across other product categories.
“During the first half of the current financial year, we continued to build on this positive momentum and are pleased to report that we are on track to deliver our strongest financial results as a publicly listed company.”
McDonald emphasized, “The board remains satisfied with our ongoing financial and operational progress and firmly believes that we are perfectly positioned to realize our long-term growth potential.”
As a result of the positive news, Supreme’s shares experienced an 8% increase in trading, reaching 107.25 pence in London before noon.