Science in Sport, the leading sports nutrition company and specialist in endurance sport nutrition, has announced its half year results for the six months ended 30 September 2013. These results represent the company’s maiden financial results as an independently quoted company following its admission to AIM on 9 August 2013.
SiS was founded in 1992 and is headquartered in Windsor, Berkshire. 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.
Highlights:
- Half yearly fiscal revenues increased by 23% to £4 million (H1 2012: £3.25 million)
- Significant progress in developing international distribution network including appointment of Asia Pacific distributor in November 2013
- Ongoing investment in e-commerce and direct selling infrastructure
- Mark Cavendish appointed as Elite Sports Consultant
- Underlying operating profit* of £21,156 ‘in line with management expectations’ (H1 2012 underlying operating profit: £221,851)
- Cash and cash equivalents of £1.4 million at 30 September 2013 (30 September 2012: £421,819)
* excludes depreciation, amortisation, demerger and restructuring costs.
Stephen Moon, Science in Sport’s CEO, said “These half year results highlight the opportunities at SiS and it is pleasing to report that sales momentum has continued into the second half, as we continue to invest in growth.
“A strong marketing and promotion plan, in conjunction with new product launches, is in place for the final quarter of the financial year, together with significant investment in direct selling and ecommerce. We remain confident of achieving strong sales growth in the current year and beyond.”
The SiS core product ranges include: SiS GO, comprising energy powders, isotonic gels, energy bars and hydration tablets; and SiS REGO, including protein-based recovery powders and bars. 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 teams Rapha Condor JLT, Belkin Pro Cycling, Madison Genesis, Pro Team Astana, Team Katusha and Trek. SiS is also currently the official supplier of sports drinks and sports nutrition to the GB Rowing Team. In addition, Olympians Sir Chris Hoy MBE, Mark Cavendish MBE and pro triathlete Helen Jenkins are Elite Sports Consultants and brand ambassadors.
