AGM Trading Statement

Supreme (AIM: SUP), a leading manufacturer, supplier, and brand owner of fast-moving consumer goods, announces the following trading update ahead of its Annual General Meeting at 9.00 a.m. today.

The Group delivered a strong year of profitable growth for the year ended 31 March 2026 (“FY26”), with revenue increasing 17% year-on-year to a record £270.2 million (FY25: £231.1 million), underpinned by the successful integration of strategic acquisitions completed over the past two years and continued momentum in the Vaping division. Adjusted EBITDA of £40.6 million (FY25: £40.5 million) was broadly in line with analyst consensus, following upgrades earlier in the year, demonstrating resilient earnings delivery against a backdrop of significant investment.

Drinks & Wellness was a key growth driver, with revenue up 60% to £69.3 million, reflecting the early contribution from SlimFast and a full year of Clearly Drinks. Importantly, the Group achieved this growth while continuing to invest in acquisitions and manufacturing capacity, ending the year with a strengthened adjusted net cash position of £7.5 million (FY25: £1.2 million), providing a solid platform to support further growth and value creation.

The Group remains well positioned to deliver organic growth and resilience in the vaping market and is fully prepared for the introduction of Vaping Products Duty on 1 October 2026. The new duty will be charged at 22 pence per millilitre across all vaping liquids. This means a 10ml bottle will attract £2.20 of duty, while a two-pack of 2ml pods will attract 88 pence, before the impact of VAT. Supreme supports the Government’s objectives of creating a more regulated and compliant vaping market.

Management will continue to leverage Supreme’s extensive manufacturing and distribution capabilities, alongside its expanded product portfolio, to capture further opportunities and deliver high-quality, affordable products to consumers.

Following a solid start to FY27, Supreme expects trading for the year to be in line with market expectations1. This is after investing almost £5 million in its brands during the year to date to support future growth.

Sandy Chadha, Chief Executive Officer of Supreme, commented:

“We have begun trading in FY27 with good momentum, and I am encouraged by the Group’s performance across our divisions. Having grown the business substantially over the past few years, driven by a number of high-profile acquisitions and organic investment, we are now firmly focused on building on the Group’s strong platform for growth.

With the Vaping Products Duty due to be introduced next month, we remain confident that our 88Vape brand, which has always been a value proposition, will continue to resonate with both existing and new consumers, as the new pricing regime takes effect across the market.

Having created an established manufacturing and compliance capability, our scale, brand positioning and value-led offering leave us well placed to successfully navigate the evolving vape marketplace.”

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1 Analysts' consensus for the year ending 31 March 2027, immediately before this announcement was published, was revenue of £302.1 million and Adjusted EBITDA of £39.6 million.

2 Adjusted EBITDA means operating profit before depreciation, amortisation, share-based payments charge, fair value movements on non-hedge accounted derivatives and exceptional items.