Business
AGM Statement
AGM Statement.
About this update from Supreme Plc
[{"type":"text","content":"\n \n \n 15 September\n 2022\n \n \n \n \n \n \n \n \n Supreme plc\n \n \n \n \n (\"Supreme,\"\n \n the \"Company\" or the \"Group\")\n \n \n \n \n \n \n \n \n AGM Statement\n \n \n \n \n \n \n Supreme (AIM:SUP), a leading manufacturer, supplier, and brand owner of fast-moving consumer products, provides an update ahead of its Annual General Meeting (\"AGM\") at 8.00 a.m. today.\n \n \n \n \n \n At the meeting, Paul McDonald, Chairman of Supreme, will make the following statement:\n \n \n \n \n \n \"Supreme delivered a strong performance across the year ended 31 March 2022, underpinned by organic growth across our leading divisions, as well as acquiring highly complementary businesses. We have continued to develop an extensive network of loyal customers across the retail space, and we are delighted with the progress we have made in increasing our retail penetration, alongside the positive impact of recent brand and product launches.\n \n \n \n \n \n Trading for the current financial year remains in line with market expectations, with the business well-placed to deliver on our strategic aspirations, supported by the recent acquisitions of vaping business Liberty Flights Limited (\"Liberty Flights\") and the purchase of trade and assets of Cuts Ice Limited (\"Cuts Ice\") and Flavour Core Limited (\"Flavour Core\").\n \n \n \n \n \n Our fast-growing Vaping category continues to underpin the Group's growth. Alongside the continued strong performance of our 88vape brand, including new customer wins across grocery and convenience retail, we remain committed to evolving our Vaping segment as evidenced with the acquisitions of Liberty Flights in June 2022, and Cuts Ice and Flavour Core in August 2022. Highly complementary and immediately earnings enhancing, the two transactions will deliver scale to the Group and are projected to generate additional cross-sell opportunities, whilst the integration of Cuts Ice will enable us to focus on expanding our European footprint, an integral component of our overarching growth strategy.\n \n \n \n \n \n The rest of the Group continues to perform in line with expectation and the overhead base continues to be tightly managed.\n \n \n \n \n \n As the UK Government and global health experts continue to endorse vaping as an effective smoking cessati...