Supreme, a UK-based electronic cigarette wholesaler, distributor and manufacturer, has announced that its financial transactions for the current fiscal year remain in line with the company's market expectations.
88 E-Cigarettes
This AIM-traded company, currently holding its annual shareholder meeting, has reported strong performance for the year ending March 31st. The company attributes its success to organic growth in leading sectors and the acquisition of complementary businesses.
The Chairman of Supreme, Paul McDonald, has announced that the company is expanding its customer network across the entire retail industry. He expressed satisfaction with the progress made in increasing retail penetration and the positive impact of recent brand and product launches.
McDonald's has announced that its transactions for this fiscal year remain in line with market expectations. The company maintains that its business is fully capable of accomplishing its strategic goals, with recent acquisitions of Liberty Flights e-cigarette business and Cuts Ice and Flavor Core trade and assets providing additional support.
Our rapidly growing category of electronic cigarettes continues to support the growth of the company.
Aside from the strong performance of Supreme's 88 e-cigarette brand, which has won new customers in grocery stores and convenience retail, McDonald's has stated that it is committed to developing its e-cigarette segment. The company recently acquired Liberty Flights in June and Cuts Ice and Flavor Core in August.
McDonald's stated that the two deals are "highly complementary and immediately accretive" and will bring scale to the group. They also stated that the company is "at a disadvantage" in order to help mitigate the impact of inflation on consumers.
He stated, "Looking towards the future, we will continue to explore additional mergers and acquisitions opportunities to supplement the group's organic growth. The board remains confident in Supreme's strategic ambitions, which are based on the exciting prospects of electronic cigarettes.
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