Supreme (LSE: SUP) Soars in H1 FY24 with 62.7% Revenue Growth, 182% EPS Increase

2 min read | February 08, 2024 12:49 AM AEDT | By Team Kalkine

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Supreme (LSE: SUP) Soars in H1 FY24 with 62.7% Revenue Growth, 182% EPS Increase — Image source: shutterstock

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Highlights

Supreme PLC has witnessed over 62.7% growth in its top-line business in H1 FY24.

Its earnings per share jumped by over 182% from 80 pence in H1 FY23 to 7.90 pence in H1 FY24.

The gross profit of the company has increased by 56.6% YoY in the reporting period.

FTSE AIM All-Share index listed Supreme PLC (LSE:SUP) manufactures vaping and sports nutrition and wellness products. The company also deals in wholesale distribution of batteries, sports nutrition, lighting, vaping, and wellness products.

In the first half of the fiscal year 2023, SUP witnessed over 62.7% growth in its top-line business. This growth was mainly because of £26.4 million revenue from ElfBar distribution opportunity, in H1 FY24. Its earnings per share jumped by over 182% from 2.80 pence in H1 FY23 to 7.90 pence in H1 FY24. The gross profit of the company has increased by 56.6% YoY in the reporting period.

For the fiscal year 2024, the company is expecting its adjusted EBITDA to be around £38 million, to mark more than 100% higher than the adjusted EBITDA in FY23. Its interim dividend has registered a massive 87.5% year-on-year (YoY) hike in H1 FY24. It paid an interim dividend of 1.50 pence per share last month, with the ex-dividend of 07 December 2023.

The company has begun a share buyback programme of ordinary shares of £0.10 each to be completed for up to £1.0 million by 30 April 2024. For FY24, SUP is anticipating a minimum revenue of £225 million, while its adjusted EBITDA is likely to be around £38 million.

Top 10 Shareholders:

Approximately 87.66% of the total shareholdings is owned by its top ten shareholders. While Chadha (Sandeep Singh) is the biggest shareholder with the maximum number of shares of around 57.34% shareholding, Moneta Asset Management is the biggest shareholder with over 7.02% shareholding in SUP.

Stock Price Performance

SUP’s stock price has gained over 10% in the past one month. It has increased by more than 7.2% over the last six months. The stock’s 52-week high and low price stand at GBX 215.00 and GBX 70.00, respectively.

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is 05 February 2024. The reference data in this report has been partly sourced from EODHD/Others. 05

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