Supreme PLC has announced that it remains on track to meet the market views for adjusted Ebitda for the fiscal year 2024. The London-listed consumer-goods distributor has provided a consensus of £25.6 million ($32 million) for adjusted earnings before interest, taxes, depreciation, and amortization for the year ending March 31. This shows an increase from £19.4 million in fiscal 2023.
Review of Impact of Proposed Ban on Disposable Vape Devices
Responding to press reports regarding a possible ban on disposable vape devices in the U.K. to combat underage vaping, Supreme PLC has stated that it will conduct a comprehensive review of the impact of any proposed changes over the medium to long term. The company will await further clarity before making any decisions.
Supreme PLC expects that if a ban on disposables is implemented, most of its current consumers will transition to alternative forms of vaping. However, it emphasizes that no new legislation will be put into effect until after a formal government consultation.
Positive Market Response
Supreme PLC's shares have seen a positive market response, with an increase of 2.1% to 96.0 pence as of 0739 GMT.