Hargreaves Lansdown

Supreme delivers 'strong performance' in H1

Mon 18 October 2021 10:56 | A A A

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(Sharecast News) - Consumer products manufacturer Supreme said on Monday that it had delivered a "strong performance" in the first half of the trading year.

Supreme stated positive momentum in its vaping division had continued alongside "particularly strong growth" in its sports nutrition and wellness category, while the group's lighting division benefitted from brought forward sales, in addition to the expected organic growth, and its batteries wing continued to be a "defensive and predictable profit contributor" for the group.

The AIM-listed firm said as manufacturing in its key vaping and sports nutrition categories was in-house, it had been "relatively unaffected" by global supply chain issues. In addition, active management in its batteries and lighting divisions had also "largely insulated" Supreme from these issues.

Overall, Supreme added group margins had been "particularly strong" with "significant year-on-year growth" in profitability.

"Whilst it is too early to draw conclusions about the full year, the board is pleased with the performance of the group and looks ahead with confidence," said Supreme.

As of 1055 BST, Supreme shares were up 6.77% at 193.25p.

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