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Trading update: Science in Sport cites 28% revenue uplift to £15.6 million in 2017

Team Sky extends agreement with Science in Sport

Listed on the UK’s AIM stock exchange, leading sports nutrition company Science in Sport (SiS) has announced a pre-close trading update for the 12 months ended 31 December 2017. The company notes that it ‘traded well in 2017 and expects to report a full year result in line with expectations’.

Sales increased 28% year on year to £15.6 million in the 12 months to 31 December 2017 (versus 2016: £12.2 million).

Continued investment in the company’s scienceinsport.com online platform and operations resulted in a 58% increase in direct sales year on year to £4.6m. Third-party online retailers also delivered robust growth of 27% to £3.9m. Retail sales including distributors reportedly outgrew the market at 13.8% to £7.1m.

Further development of international markets was a key focus during the year. Growth across all international revenue operations was 60% reaching £4.4m. Ex-plan investment was made in the USA and Italy, which has ‘set these markets up for significant growth in 2018 following the raising of additional funding in December 2017’. Meanwhile, the company added that the Australian business continued to perform to expectation.

A release from SiS added that ‘Marketing investment resulted in record levels of brand awareness and usage… The Board remains confident of continued strong growth in 2018 and beyond.’

The company intends to issue its full year results on Wednesday 21 March 2018.

SiS products are manufactured in the UK at the company’s Innovation Centre in Lancashire. All SiS products are Informed-Sport tested and accredited. SiS worked closely with the HFL anti-doping laboratory to d’evelop a world class evolved three-pronged testing system to minimise the risk of product contamination’.

www.scienceinsport.com

 

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