- Pre-tax profit surges 21 per cent to £16.4m.
- Revenue from vaping and sports nutrition segments soar both over 36 per cent.
- Earnings accretive small acquisitions.
- Board eyeing up European expansion opportunities.
Supreme (SUP:203p), a distributor and manufacturer that sells a range of products to discount retailers and supermarkets (B&M, Home Bargains, Poundland, Morrisons and Sainsbury’s are all customers) has produced eye-catching maiden results.
Buoyed by the success of its vaping brand, 88vape, the market leader in the UK with a 30 per cent market share, group adjusted pre-tax profit surged 21 per cent to £16.4m on a third higher revenue of £122m in the 12 months to 31 March 2021. The vaping segment increased revenue by 36 per cent to £39.5m growth (all organic), of which a maiden nine-month contribution from a contract award from HM Prison & Probation Service accounted for £10m of the total and higher margin online sales around £6.5m.