Leading endurance sport nutrition company, Science in Sport (SiS) has announced its half year results for the six months ended 30 September 2014.
Highlights:
- Revenues increased by 23% to £4.92 million (H1 2013: £4.00 million), reflecting growth across all sales channels
- Underlying operating profit (excludes depreciation, amortisation, and share based payments) of £75,000 in line with management expectations (H1 2013 underlying operating profit: £21k)
- Continued investment in new product development delivering 34% of the growth in the period and a pipeline of imminent launches
- Strong multimedia marketing investment during Tour de France reaching over 4 million consumers
- Manufacturing facility in Nelson – the sole UK factory with Evolved Certification from Informed Sport – delivered an improved gross margin at 58.4%
- Cash and cash equivalents of £2.33 million at 30 September 2014 (30 September 2013: £1.40 million)
Stephen Moon, Science in Sport’s CEO, said “We are pleased to report a strong set of interim results, both financially and operationally, demonstrating the continued success of the company. We will continue to drive sales growth through consistent investment in marketing and sales and through a strong new product pipeline. At the same time, we remain focused on ensuring the gross margin is on an upward trend and maintaining careful control of costs.”
Moon continued, “Our investment in operational and administrative infrastructure is largely complete and we expect underlying profitability to continue to improve particularly as we begin to benefit from operational leverage. We remain confident of achieving strong growth in 2015 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, Madison Genesis, Pro Team Astana, Team Katusha and Trek. SiS is also 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 Helen Jenkins are Elite Sports Consultants and brand ambassadors.
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.
