Science in Sport PLC Half Year Trading Update (5674L)
July 20 2017 - 1:00AM
UK Regulatory
TIDMSIS
RNS Number : 5674L
Science in Sport PLC
20 July 2017
For immediate release 20 July 2017
SCIENCE IN SPORT PLC
("SiS" or the "Company")
Half Year Trading Update
Science in Sport plc (AIM: SIS), a leading sports nutrition
company that develops, manufactures and markets sports nutrition
products for professional athletes and sports enthusiasts, is
pleased to announce the following pre-close trading update ahead of
its financial results for the six months ended 30 June 2017.
The Board is pleased to report another period of strong sales
increases, and significant progress in execution of the Company's
growth strategy.
Sales increased 28% to GBP8.27 million in the six months to 30
June 2017 compared with the same period for the previous year (H1
2016: GBP6.48 million). The Company's e-commerce platform delivered
growth of 78% across all markets, whilst there was also growth in
all retail channels, which is particularly pleasing given tough
trading conditions. Additionally the Company has increased
investment in its US and Italian businesses and they are trading in
line with expectations, as is the Australian business.
The Company increased its database of customers on its own
e-commerce platform by 38% in the half year and all related
conversion and trading metrics are in line with expectations. The
science and innovation pipeline is healthy and revenues are
expected to accelerate in the second half of the year, with a
WHEY20 relaunch in July 2017, and both a premium recovery product
and a novel immunity product to be launched in August 2017.
Costs remain tightly controlled, enabling the pace of investment
into international markets and systems to increase in line with the
growth strategy. The Company remains in a strong financial position
with over GBP3.9m of net cash, leaving it well placed to exploit
further growth opportunities as they arise. The Board remains
confident of the outlook for the full year and beyond.
SiS intends to issue its half year results on Thursday 21
September 2017.
Stephen Moon, Science in Sport's CEO said: "We have had a strong
start to the year in a difficult market, and have made very good
progress, particularly when many of our competitors continue to
face growth challenges.
"We have invested heavily in international markets and increased
our investment to capitalise on opportunities we are seeing. We
continue to invest in all aspects of our e-commerce business and
that is reflected in the high growth delivered. We have good
momentum and together with our healthy innovation pipeline, we
expect to have a strong second half."
This announcement contains inside information
For further information:
Science in Sport PLC +44 (0) 20 7400 3700
Stephen Moon, CEO
Elizabeth Lake, Finance Director
Cenkos Securities - NOMAD and
Broker +44 (0) 20 7397 8900
Bobbie Hilliam
Yellow Jersey PR - Financial PR
Felicity Winkles +44 (0) 7748 843 871
Harriet Jackson +44 (0) 7544 275 882
Notes for editors
About Science in Sport plc
Science in Sport plc is a leading sports nutrition company that
develops, manufactures and markets sports nutrition products for
professional athletes and sports enthusiasts. SiS is a strong brand
in the elite athlete community - in the 2016 Rio Olympics, 34
medal-winning athletes or teams used SiS products (compared with 24
in 2012).
The SiS core product ranges include: SiS GO, comprising energy
powders, isotonic gels, energy bars and hydration tablets; SiS
REGO, including protein-based recovery powders and bars; and SIS
Protein, products specifically designed to contribute to athletes'
lean muscle mass growth and maintenance. SiS products are sold in a
range of retail channels, including specialist sport retailers,
major grocers, high street retailers and e-commerce websites.
SiS is currently the official sports nutrition supplier to
professional cycling team Team SKY, British Cycling, USA Cycling,
Cycling Australia and British triathlon. In addition, Olympians Sir
Chris Hoy MBE, and Katarina Johnson-Thompson are Brand Ambassadors
and Mark Cavendish MBE is an Elite Sports Consultant to the
brand.
SiS was founded in 1992 and is headquartered in Hatton Garden,
London. Its manufacturing facility is in Nelson, Lancashire.
SiS shares are traded on the AIM market of the London Stock
Exchange under the ticker symbol SIS.
For further information, please visit www.scienceinsport.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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