Supreme PLC on Tuesday said its traditionally busiest quarter grew substantially, boosted by ‘impressive growth’ of its vaping division.
The Manchester-based firm manufactures and distributes battery, lighting and vaping products.
The company said revenue and gross profit in the third quarter to December 31 was up 30% from a year ago.
It noted that it was ‘well placed’ to meet upgraded market expectations from November.
‘Bolstered by its extensive retail distribution network and robust direct-to-customer capabilities, Supreme remains ideally placed to capitalise on the fast-growing demand in the vaping market,’ it said.
Supreme highlighted its vaping division, which saw a continued ‘impressive growth trajectory,’ helped by Liberty Flights, Cuts Ice and Flavour Core performing well. In June 2022, Supreme bought Lancashire, England-based vaping manufacturer Liberty Flights Holdings Ltd for £7.8 million.
Looking ahead, the company said third quarter performance underpinned its management’s confidence in financial year 2024 starting on April 1.
Supreme shares rose 12% to 113.80 pence each in London on Tuesday morning.
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