Supreme PLC Expects Record Performance
Supreme PLC, a leading U.K. consumer-products manufacturer, has announced that it anticipates reporting a record-breaking performance for the first half of its fiscal year. The company has also reconfirmed its recently upgraded full-year guidance.
Strong Financial Results
For the half year ended September 30, Supreme PLC projects revenue of over £100 million, a significant increase from the £67.6 million reported during the same period last year. Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) are expected to reach no less than £15 million, compared to £8.1 million previously.
Remarkable Growth in Vaping Products
Supreme PLC attributes its outstanding performance to the exceptional distribution of Elf vaping products, surpassing the board's initial expectations. These products have contributed approximately 50% of the company's reported revenue and gross profit growth. Furthermore, Supreme PLC's four other categories have also experienced robust revenue and gross profit growth.
Optimistic Outlook
The company has reiterated the guidance provided on September 26, forecasting revenue between £195 million and £205 million for the fiscal year ending March 31. Additionally, adjusted EBITDA is expected to range from £28 million to £30 million.
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