E-commerce growth puts SiS ahead of the game

Lancashire sports nutrition specialist Science in Sport has enjoyed a stellar half-year thanks to burgeoning e-commerce platform which has delivered 87% growth across all markets.

Revenue grew 28% to £8.27m (H1 2016L £6.48m) in the six months to June 30 with its e-commerce channels now accounting for 51% of total revenues – up from 46% in the same period in 2016.

However, strategic investment in international market expansion and e-commerce business resulted in underlying an operating loss of £1.1m in line with expectations and growth strategy (H1 2016: -£369,000).

Increased input prices on raw materials and growth in protein products have been absorbed through increased efficiencies, leaving overall gross profit unchanged at 58.8%.

The company highlighted new product development and launches continued with GO Caffeine Shots launched in H1, and further acceleration in H2 with WHEY20 relaunched in July. and GO Energy + Immune Gel and REGO Rapid Recovery Plus launched in August.

There has also been increased investment in marketing was focused on driving brand awareness in international markets and on growing our e-commerce business customer database by 38% from the beginning of the period.

Chief executive Stephen Moon said: “I am pleased that we have had such a strong start to the year in a difficult market of rising input costs and uncertain consumer spending.

“We have achieved yet another period of substantial growth, which was in line with our expectations, and saw revenues increase 28% year on year.

“We have invested heavily in international markets during the first half and trading is in line with expectations in Australia, Italy and the USA.

“We have also seen exceptionally strong growth from our own e-commerce platform. Our strategy of focusing on online and international growth is delivering results.”