Supreme PLC on Monday said it was trading in line with expectations for the year ending March 31.
The Manchester-based firm manufactures and distributes battery, lighting and vaping products. In the six months to September 30, the Vaping division continued its ‘strong growth trajectory’, and remained a ‘significant profit driver’.
Shares in Supreme were up 5.9% to 82.03 pence each in London on Monday morning.
Supreme reiterated that the Lighting category has slowed down during the period, reflecting a wider slowdown across the market.
‘The early indications of recovery evidenced in retail sales across September and October reaffirm the temporary nature of this slow down,’ Supreme said, adding: ‘The remainder of the group remains profitable, resilient and highly cash generative.’
Looking ahead, it remains confident about its future growth prospects, as it targets organic growth and full integration of recent vaping acquisitions.
‘Supreme has both the strong operational foundations and a clearly defined growth strategy in place to further increase its retail footprint across the group’s leading categories and continue to capitalise on the fast-growing transition from tobacco to vaping,’ the firm said.
It will report interim results for the period on November 29.
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