In an impressive display of financial growth, Supreme Plc, a leading supplier in the vaping sector, has reported a significant increase in profits for the fiscal year ending March 2024.
The Manchester-based manufacturer experienced a revenue rise of 42%, reaching £221 million. This financial success was driven by outstanding performance across its diverse product range, positioning the company for future growth.
Supreme Plc has announced remarkable full-year financial results, defying challenging market conditions. Pre-tax profits more than doubled to £30.1 million, accompanied by a 96% increase in adjusted EBITDA, reaching £38.1 million. This substantial growth is attributed to strong trading across all divisions, with a record level of cash generated. The company ended the year entirely debt-free, with unused borrowing facilities of £55 million.
The company also introduced measures to curb underage vaping, such as reducing coloured packaging in its 88Vape brand. These steps highlight Supreme’s commitment to regulatory compliance and corporate responsibility.
Sandy Chadha, CEO of Supreme, stated, “We are committed to providing high-quality, high-value products and continuously explore acquisitions that supplement our core business.”
The development and promotion of sustainable products remain a focal point for Supreme, aligning with broader industry trends towards responsible consumption.
The company remains focused on expanding its market reach and enhancing product offerings, ensuring it remains competitive and relevant in a rapidly evolving industry.
These dividends reflect Supreme’s financial health and commitment to delivering shareholder value through consistent returns.
Supreme Plc’s strong financial performance and strategic initiatives highlight its robust position in the market. With a forward-looking approach, the company is well-prepared to continue its growth trajectory and meet future challenges.
Supreme Plc’s achievements over the past year underscore its resilience and strategic acumen in navigating market challenges. The company is set to leverage its strengths and pursue growth opportunities, ensuring long-term success.
With a clear focus on sustainability and market adaptation, Supreme is poised to maintain its leadership within the industry. The initiatives taken today are paving the way for a promising future.
