Fast-moving consumer goods group Supreme plc has reported record annual revenue after growth in its vaping business and contributions from recent acquisitions, despite the introduction of the UK disposable vape ban during the financial year.
The AIM-listed company said revenue for the year ended 31 March 2026 rose 17 per cent to a record £270.2 million from £231.1m a year earlier, driven by strategic acquisitions completed over the past two years and a 15 per cent increase in vaping sales.
Adjusted EBITDA was broadly unchanged at £40.6m, while pre-tax profit fell 14 per cent to £26.7m from £30.9m. Adjusted pre-tax profit declined 9 per cent to £27.5m, and adjusted earnings per share dropped 13 per cent to 18.9p.
Supreme said its Drinks & Wellness division delivered the strongest growth, with revenue increasing 60 per cent to £69.3m following the acquisition of the SlimFast brand and a full-year contribution from Clearly Drinks.
The group also strengthened its balance sheet during the year, ending the period with adjusted net cash of £7.5m compared with £1.2m a year earlier, while statutory net debt was reduced by 40 per cent to £7.4m.
During the year, Supreme acquired SlimFast and carpet care brand 1001 for a combined £22.3m. The company said the acquisitions are expected to generate annualised adjusted EBITDA of around £6.5m.
The group invested £6m in expanding its in-house manufacturing capacity, including the creation of a new wellness manufacturing facility known as ‘The Hive and continued development of its tea manufacturing site, ‘The Plant’. It also expanded production at its Typhoo Tea business, manufacturing around 380 million tea bags during the year.
In vaping, Supreme said revenue increased despite "major legislative change" following the UK's disposable vape ban, while retaining all of its major retail customers.
The company also expanded its international footprint by establishing distribution capabilities in Hong Kong and securing licensing agreements covering the Middle East and China. Since the year end, it has signed additional licensing agreements with Carabao and Tonino Lamborghini for its drinks and wellness portfolio.
Chief executive Sandy Chadha said the company had delivered a "record-breaking performance", with its brand portfolio having doubled over the past two years through acquisitions and organic expansion.
"Our ongoing investment in Supreme's manufacturing capabilities continues at pace, greatly enhancing our ability to both safeguard margins but more importantly, continue to place product development at the heart of our business," he said.
Supreme said trading at the start of the new financial year has been in line with market expectations. It added that it is well positioned to benefit from organic growth and market consolidation following the introduction of the UK Vaping Products Duty.
The board has proposed a final dividend of 3.8p per share, taking the total dividend for the year to 5.4p, up 4 per cent from the previous year, subject to shareholder approval.