In a crisis riddled world marked by wars from Ukraine to the Middle East – one would expect consumer demand to wobble. Yet across the UK’s FMCG, drinks, wellness and vaping markets, consumption remains remarkably resilient. Why? Because these are everyday, affordable products -small-ticket essentials and “feel-good” purchases that people continue to enjoy.

Enter Supreme  , an entrepreneurial group that’s quietly building one of the UK’s most diversified and agile FMCG platforms. By assembling a stable of high-performing brands - ranging from Typhoo Tea and Clearly Drinks Ltd to SCI-MX Nutrition and SlimFast, alongside its heritage vaping arm. Crucially, that pivot towards Drinks & Wellness is not just defensive - it’s tapping into powerful structural growth trends around health, hydration and nutrition.

And today’s FY26 trading update shows that strategy is working.

Supreme PLC delivered a standout performance for the year to March, with revenues jumping 15% to £265m and EBITDA hitting £40.6m, comfortably ahead of expectations . This is no small feat given the well-publicised disruption from the UK’s disposable vape ban. Yet impressively, vaping sales still grew more than 10% year-on-year, underlining management’s successful transition to alternative formats.

Elsewhere, the £20.1m acquisition of SlimFast UK in Oct’25 has already made an “excellent” contribution, while ongoing investment in manufacturing, including a new 40,000 sq.ft wellness facility, positions the division for sustained expansion. Combined with a vertically integrated model and access to 55,000 retail outlets, Supreme has built a powerful engine for cross-selling and margin enhancement.

CEO Sandy Chadha commenting: the group has delivered “record financial results… significantly ahead of expectations,” supported by acquisitions, new products and strong underlying trading.

Looking forward,Shore Capital has upgraded FY26 expectations to £265m revenue and £40.6m EBITDA, with FY27 revenues climbing further to £295m. Moreover, the shares trade on attractive 7.2x FY26 PER and 4.0x EV/EBITDA multiples, alongside offering a 3.4% dividend yield with net cash (est £3.1m). FY27 multiples remain modest too at 7.6x PER and 4.0x EV/EBITDA, suggesting the market is yet to fully price in the group’s diversification and earnings power.

Sure there’s a new UK vaping tax being introduced from Oct’26 onwards. Yet equally Supreme PLC looks like a business leveraging its scale, channel strength, FMCG brands and product diversification to deliver growth in even the toughest of backdrops.

Disclosure: Supreme PLC is a Vox Markets client.