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Supreme FY underlying earnings beat expectations

Tue 04 May 2021 11:20 | A A A

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(Sharecast News) - Consumer products manufacturer Supreme said on Tuesday that full-year adjusted underlying earnings had come in ahead of expectations, driven by a strong performance across several key growth categories.

Supreme stated it had "performed strongly" throughout the twelve months ended 31 March, generating high levels of demand across all its core categories.

The AIM-listed group added that its "excellent performance", delivered against the backdrop of the Covid-19 pandemic and the associated restrictions, reinforced its "resilience", the strength of its brands, and the importance of its "diverse routes to market" and "extensive" retail network.

Supreme anticipates reporting a roughly 30% increase in revenues to at least £121.0m, in line with management's expectations, and adjusted underlying earnings of £19.0m, slightly ahead of expectations and an increase of approximately 20% year-on-year.

Chief executive Sandy Chadha said: "We continue to build on our strong track record of growth, with our strategy to focus on high growth categories such as vaping and sports nutrition really coming to fruition.

"The new financial year has started well and we are looking ahead with confidence on delivering on our expectations."

As of 1115 BST, Victoria shares were up 1.53% at 995.0p.

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