Supreme PLC (AIM:SUP) has said its lighting division is now showing signs of recovery following a slowdown in the first half of the year.
The manufacturer of fast-growing consumer products said it is “pleased” about its performance in the six-month period to 30 September 2022, adding that it is trading in line with expectations for the full year to end-March 2023.
As expected, the lighting business slowed down during the first half in line with the slowdown in the market, but retail sales in September and October provide early indications of a recovery, reaffirming the temporary nature of the slowdown, Supreme said.
It noted that the remainder of the group “remains profitable, resilient and highly cash generative”.
The vaping division, a significant profit driver, “continued its strong growth trajectory” in the period, driven by both organic growth and acquisitions.
Supreme said it will report its interim results for the six months to 30 September 2022 on 29 November.