Supreme posts strong H1 as vaping revenues rise 13 per cent and business successfully pivots from disposables
November 26, 2025
Vaping range of Supreme PLC.
Supreme PLC has reported a strong uplift in vape revenues for the first half of its 2026 financial year, confirming that the business has “successfully navigated” the UK’s market transition away from disposable vapes.
In its unaudited H1 results for the six months to 30 September 2025, Supreme said its unified Vaping division grew sales by 13 per cent to £76.9m as pod systems replaced disposable formats across retail channels. The company stressed that it retained all major listings and volumes throughout the changeover, supporting continued category momentum.
Gross margin as a percentage of sales reduced marginally from 33 per cent to 31 per cent owing to the reduced margins on pod systems versus their disposable counterparts. Sales across the remainder of the category have been solid, benefitting from additional price increases and further ongoing traction from its B2C online channel.
Supreme also introduced new third-party brands during the period, which include IVG and Hayati, now distributed alongside established brands, such as Lost Mary and ElfBar.
Total group revenue rose 17 per cent to £132.6m, driven by both acquisitions and organic growth, although adjusted EBITDA remained flat at £18.5m as gains in vaping were offset by weaker performance in batteries and lighting.
Supreme’s portfolio diversification accelerated during the period with the acquisitions of 1001 carpet care in September and SlimFast UK & Europe shortly after period-end – together adding around £30m of annualised revenue.
Sandy Chadha, chief executive, said the company is now home to over 40 brands and licences, and continues to broaden its wellness and FMCG footprint alongside vape.
“This unique market reach will continue to enable the business to further leverage our growing product portfolio, alongside developing new products to further expand our market share,” he added.
The group is on track to deliver half of its annualised revenues from non-vape activities going forward.
Supreme expects full-year trading to be in line with market forecasts of £245m revenue and £37m adjusted EBITDA.
