Supreme (AIM:SUP), the AIM-listed manufacturer and brand owner of fast-moving consumer goods, said trading for the year ending 31 March 2027 remains in line with market expectations, following a solid start to the financial year.
Analyst consensus prior to the update stood at revenue of £302.1 million and adjusted EBITDA of £39.6 million for FY27, and the group has already invested almost £5 million in its brands so far this year to support future growth.
The update follows a strong FY26, in which revenue rose 17% year-on-year to a record £270.2 million, up from £231.1 million, driven by the integration of recent acquisitions and continued momentum in the vaping division.
Adjusted EBITDA of £40.6 million was broadly flat on FY25's £40.5 million, in line with analyst consensus after earlier upgrades, while the Drinks & Wellness division grew revenue 60% to £69.3 million on the back of SlimFast and a full year of Clearly Drinks.
The group ended FY26 with an adjusted net cash position of £7.5 million, up from £1.2 million a year earlier.
Supreme said it is fully prepared for the introduction of the Vaping Products Duty on 1 October, which will charge 22p per millilitre across vaping liquids, equating to £2.20 on a 10ml bottle before VAT.
"We remain confident that our 88Vape brand, which has always been a value proposition, will continue to resonate with both existing and new consumers, as the new pricing regime takes effect across the market," said chief executive Sandy Chadha.
News Intelligence what this means for the company
Supreme confirmed FY27 trading remains on track versus analyst consensus (£302.1m revenue, £39.6m adjusted EBITDA), backed by a solid start to the year and £5m already invested in brand support. The company is braced for the Vaping Products Duty launching 1 October, which will add 22p per millilitre to vaping liquids; management believes its value-positioned 88Vape brand will hold its ground as the market reprices.
The update offers no material surprise—trading tracking consensus is a holding pattern, not a catalyst. The duty is a known headwind that Supreme has already factored into guidance; the real test will be whether 88Vape's value positioning can defend volume and margin once the tax hits shelves, a question this update does not yet answer.
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