UK Distributor Supreme: ELFBAR and LOST MARY Distribution Drive Profit Surge, Revenue Rises 42% to £221 Million

Elfbar by 2FIRSTS.ai
Jul.02.2024
UK Distributor Supreme: ELFBAR and LOST MARY Distribution Drive Profit Surge, Revenue Rises 42% to £221 Million
Supreme, a UK distributor for e-cigarette brands 88Vape and ELFBAR, nearly doubles profits and announces generous dividends.

According to an MSN report on July 2, the profits of e-cigarette brands 88Vape and ELFBAR, distributed through Supreme in the UK, nearly doubled within a year. The company described its financial performance as "outstanding" and announced a generous dividend.

 

In the fiscal year ending March 2024, Supreme's revenue increased by 42% from £155.6 million to £221 million, while adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) surged by 96% to £38.1 million, primarily benefiting from its distribution agreements with ELFBAR and LOST MARY.

 

Meanwhile, Supreme's profits have soared. The company reported that pre-tax profits and adjusted pre-tax profits increased from £14.4 million to £30.1 million and from £15.2 million to £30.7 million, respectively, during a period of "high cash generation.

 

Therefore, Supreme will propose a final dividend of 3.2 pence per share at its annual shareholders' meeting in September, bringing its total annual dividend to 4.7 pence per share, a 57% increase from last year.

 

The company's CEO Sandy Chadha stated:

 

Supreme showed excellent performance during this period, with strong growth in revenue across all five departments. Despite facing challenges, we remain committed to providing retail partners and customers with high quality, high value products. Operationally and financially, we are in a strong position to pursue organic expansion and, as demonstrated by our successful acquisition of Clearly Drinks in the past (and during this period), we will continue to evaluate complementary acquisition opportunities.

 

In March of this year, following a parliamentary vote to ban disposable e-cigarettes, Supreme's stock price plummeted from 133 pence to 102 pence in just a few days. However, since then the stock price has surpassed its previous levels, now trading at 177 pence.

 

Chada expressed no concern about the proposed ban on disposable e-cigarettes, as the bill does not have enough time to be passed before Parliament dissolves in preparation for the upcoming election.

 

From our e-cigarette business perspective, we are fully committed to supporting the eradication of underage vaping, allowing the industry to return to its core mission: helping adult smokers find an affordable, sustainable, and safer alternative. I am not concerned that the government's e-cigarette proposals will have any long-term impact on Supreme, as we are a responsible manufacturer and distributor with the resources and experience to adapt to potential new market dynamics.

 

Notice

1. This article is provided exclusively for professional research purposes related to industry, technology and policy. Any reference to brands or products is made solely for the purpose of objective description and does not constitute an endorsement, recommendation, or promotion of any brand or product.

2. The use of nicotine products, including but not limited to cigarettes, e-cigarettes, and heated tobacco products, is associated with significant health risks. Users are required to comply with all relevant laws and regulations in their respective jurisdictions.

3. This article is strictly restricted from being accessed or viewed by individuals under the legal age.

Copyright

This article is either an original work by 2Firsts or a reproduction from third-party sources with the original source clearly indicated. The copyright and usage rights of this article belong to 2Firsts or the original source. Unauthorized reproduction, distribution, or any other unauthorized use of this article by any entity or individual is strictly prohibited. Violators will be held legally responsible. For copyright-related matters, please contact: info@2firsts.com

AI Assistance Disclaimer

This article may have utilized AI to enhance translation and editing efficiency. However, due to technical limitations, errors may occur. Readers are advised to refer to the sources provided for more accurate information.

This article should not be used as a basis for any investment decisions or advice, and 2Firsts assumes no direct or indirect liability for any errors in the content.

Turkish Police Intercepts Passenger Smuggling Cigarettes and E-Cigarettes
Turkish Police Intercepts Passenger Smuggling Cigarettes and E-Cigarettes
Turkish police intercept a bus and find smuggled cigarettes and e-cigarettes in a passenger's luggage, leading to legal action.
Regulations
Dec.11 by 2FIRSTS.ai
Shunho Group: Cooperation with China Tobacco Subsidiaries on HNB
Shunho Group: Cooperation with China Tobacco Subsidiaries on HNB
Recently, Shunho Shares responded to investors' queries, revealing that its subsidiaries in Hainan FTZ and Cambodia factory have not started production yet.
Business
Apr.30 by 2FIRSTS.ai
Malawi to Create Better Working Environment for Tobacco Industry Workers
Malawi to Create Better Working Environment for Tobacco Industry Workers
According to Malawi24, the Malawian government has promised to create a favorable working environment for tobacco industry workers.
Regulations
Sep.20 by 2FIRSTS.ai
UK health minister pledges ambitious new anti-smoking legislation plan
UK health minister pledges ambitious new anti-smoking legislation plan
The UK Health Secretary has announced plans to introduce tougher anti-smoking laws, with the aim of gradually raising the legal age to buy tobacco so that those born after 2009 will never be able to legally smoke, with the aim of creating a 'smoke-free generation' by 2025.
Oct.23 by 2FIRSTS.ai
FDA To Hold Public Hearing On Tobacco Manufacturing Requirements
FDA To Hold Public Hearing On Tobacco Manufacturing Requirements
FDA to hold public hearing on new manufacturing requirements for tobacco products on April 12, 2023. Registration required.
Mar.15 by 2FIRSTS.ai
South Korean Brand Mons to Introduce New Bubblemon 2ml Model with RELX Symbol
South Korean Brand Mons to Introduce New Bubblemon 2ml Model with RELX Symbol
Mons to launch new e-cigarette "Bubblemon 2ml" with aqua and pink mon flavors; improved user experience and competitive pricing.
Market
Apr.11 by 2FIRSTS.ai