Supreme 'pleased' with H1 performance, trading in line with FY expectations

Consumer products group Supreme said on Monday that it was "pleased" with its first-half performance, with trading in line with expectations for the year ending 31 March.

Supreme stated its vaping division, a "significant profit driver" for the group, had continued its "strong growth trajectory" across the period, driven by a combination of both organic and recent acquisitive momentum.

However, Supreme noted that as previously flagged, its lighting category had slowed down during the half, in line with the slow down across the market, but also noted that early indications of recovery evidenced in retail sales across September and October had reaffirmed the "temporary nature" of this slowdown.

Looking forward, the AIM-listed group remains "positive" about its future growth prospects, with the company now focusing on delivering organic growth whilst fully integrating its recent vaping acquisitions.

"Supreme has both the strong operational foundations and a clearly defined growth strategy in place to further increase its retail footprint across the group's leading categories and continue to capitalise on the fast-growing transition from tobacco to vaping," said the company.

As of 1035 BST, Supreme shares were up 8.37% at 83.99p.

Reporting by Iain Gilbert at Sharecast.com