Half-Year Trading Update

Source: RNS
RNS Number : 8161R
Science in Sport PLC
08 July 2022
 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU NO. 596/2014) AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("MAR").

 

 

Science in Sport plc

 

("Company" or "Group")

 

Half-Year Trading Update

 

 

Science in Sport plc (AIM: SIS), the premium performance nutrition company serving elite athletes, sports enthusiasts, and the active lifestyle community, announces a trading update for the six months to 30 June 2022.

Revenue growth for the period is expected to be approximately 12% versus the same period in FY21, which is lower than expected. We believe that our growth will improve in the second half through investment in brands and our digital channels, and through improved pricing.

Our current assessment of external factors indicates an adverse £3.2m of costs or margin loss for the year compared to budget. This includes raw material price increases, fuel and logistics costs, people retention costs, and closure of our Russian business.

The new Blackburn site is close to completion, with the logistics operation delivering the expected efficiencies and cost savings in line with the business case. The gel machine is being installed, and the site will be fully operational by the end of July.

 

For further information:

 

Science in Sport plc

T: 020 7400 3700

Stephen Moon, CEO


James Simpson, CFO




Liberum (Nominated adviser and joint broker)

T: 020 3100 2000

Richard Lindley

Will Hall

Lucas Bamber


 

Davy (Joint broker)

Graham Hertrich

Sonya Vidiartkhi

Marco Schwartz

 

T: 020 7448 8871

 

Notes to Editors

 

About Science in Sport plc

 

Headquartered in London, Science in Sport plc is a leading sports nutrition business that develops, manufactures, and markets innovative nutrition products for professional athletes, sports and fitness enthusiasts and the active lifestyle community. The Company has two highly regarded brands, PhD Nutrition, a premium active-nutrition brand targeting the active lifestyle community, and SiS, a leading endurance nutrition brand among elite athletes and professional sports teams.

The two brands sell through the Company's phd.com and scienceinsport.com digital platforms, third-party online sites, including Amazon and Tmall, and extensive retail distribution in the UK and internationally, including major supermarkets, high street chains and specialist sports retailers. This omnichannel footprint enables the Company to address the full breadth of the sports nutrition market, forecast to be £13 billion1 worldwide by 2023.

 

PhD is one of the UK's leading active nutrition brands with a reputation for high quality and product innovation. The brand has grown rapidly since its launch in 2005. The range now comprises powders, bars, and supplements, including the high protein, low sugar range, PhD Smart. PhD brand ambassadors include leading fitness influencers Ross Edgley and Obi Vincent.

 

SiS, founded in 1992, has a core range comprising gels, powders and bars focused on energy, hydration, and recovery. SiS is an official sports nutrition supplier to over 330 professional teams, organisations, and national teams worldwide, including INEOS Grenadiers Cycling Team. SiS supplies more than 150 professional football clubs in the UK, Europe, and the USA. SiS is Performance Research Partner to the English Football Association and Official Vitamins and Supplements Partner to the Milwaukee Bucks, 2021 National Basketball Association Champions.

 

For further information, please visit phd.com and scienceinsport.com

 

1 Euromonitor Passport Database Global Assessment (December 2020)

 

 

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