London-Listed E-Cigarette Distributor Supreme Reports 75% Revenue Growth Last Fiscal Year

London Stock Exchange-listed vaping distributor Supreme announced its FY2023 results on July 5. Its vaping division delivered record results in FY2023, with revenue rising from GBP 43.6 million in the previous fiscal year to GBP 76.1 million, representing year-on-year revenue growth of 75%;
at the same time, gross profit increased by GBP 8.6 million to reach GBP 28.1 million. Although the company’s annual profit was weak in the financial report, its share price rose 5% on the day the results were released. In related remarks, Supreme executives said the vaping division remains the group’s main growth driver.
In the announcement, Supreme said that mergers and acquisitions and capital expenditure in FY2023 reached a record high of GBP 11.3 million (vs. GBP 3.8 million in FY2022). In FY2023, Supreme completed the acquisitions of e-liquid and device manufacturer Liberty Flights, e-liquid OEM manufacturer Cuts Ice, and independent e-liquid manufacturer Superdragon, thereby improving profitability.
Supreme entered the vaping market in 2012 with the launch of KiK e-liquid, and in December of that year began producing e-liquid at its VN Labs facility in Trafford Park, Manchester. It launched its own 88vape brand in 2015. In 2019, Supreme expanded the VN Labs manufacturing facility, which currently produces more than 250,000 bottles of e-liquid per day. In 2021, 88vape entered 1,180 McColl's convenience stores nationwide. According to official information, Supreme holds a 30% share of the UK vaping market.
Official company information shows that Supreme was founded in 1975 and mainly operates across five categories: batteries, lighting, vaping, sports nutrition and wellness, and branded household consumer goods. The company has capabilities spanning product development and manufacturing, an extensive retail distribution network, and direct-to-consumer operations. At present, Supreme supplies products to 3,300 retail customers across 41 countries and manages more than 10,000 branded retail stores.
Its customers include B&M, Home Bargains, Poundland, The Range, Sainsburys, Sports Direct, Londis, SPAR, Costcutter, Asda, and Halfords. The brands it distributes also include well-known names such as Duracell, Energizer, and Panasonic.