Science in Sport (SiS) has announced a pre-close trading update for the 12 months ended 31 December 2018. Overall group sales for 2018 stood at £21.3 million (up from £15.6 million in 2017). This includes a 25-day contribution of £1.5 million from PhD Nutrition, following SiS’ acquisition of PhD completing on 6 December.
Underlying SiS sales growth was reported at 27% to £19.8 million (£15.6 million in 2017). The company reported that second half growth accelerated 34% for SiS, following first half investment in growth initiatives.
Commenting on the trading update, Stephen Moon, Chief Executive of SIS, said “Our consistent strategy of investment in brand and innovation produced a strong performance in line with our expectations. We remain committed to an omni-channel strategy; however our focus on the growth drivers of the SiS.com business and developing international markets produced exceptional results.
“We were delighted to have secured the PhD Nutrition business and its excellent management team and integration is on track to maximise the combined potential. Over the coming years our ambition is to build the world’s leading premium performance nutrition business.
“In the last five years, the Science in Sport business has delivered CAGR of 25% and with our proven strategy and the PhD acquisition, the Board remains confident of continued strong growth in 2019 and beyond.”
Other financial highlights reported by the company included:
- Strong SiS online sales growth of 29% to £11.2 million underpinned by SiS.com, which grew sales at 40% to £6.4 million following significant investment in a new e-commerce platform launched in March.
- The rapid pace of SiS international growth continued, increasing 55% to £6.8 million.
The final results for the year are expected to be in line with market expectations and will be announced on 20 March 2019.
SiS acquired the premium performance nutrition brand, PhD Nutrition, for £32 million in December 2018… ‘The transformational deal doubles the size of the company, extends its product range, and enhances its international presence.’
PhD is seen as a highly complementary acquisition that accelerates SIS’ ambition to become a global leader in premium performance nutrition.
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’.