Supreme plc FY Results 1 July 2026

Supreme Group reported £270 million revenue and adjusted EBITDA of £40.6 million, with strong cash flow and net cash positive of £7.5 million pre-IFRS16 and no bank debt. While the vaping business was expected to decline, it grew 14.8% and the company says it is well prepared for the introduction of vaping duties tax in October. We retain our 237p/ share fair value estimate.