Revenues soar by 37% at sports nutrition firm

A firm which specialises in manufacturing nutritional products for elite athletes and sports stars has seen a surge in revenues.

Science in Sport, which is based in Nelson, manufactures and markets performance nutrition products for elite athletes, sports and gym lifestyle enthusiasts.

According to its final results the firm saw a 37% increase in revenue to £21.3m.

There was an increase in gross profit to £12m including a £400,000 gross profit following the acquisition of PhD.

There was an underlying operating loss of £2.5m in line with growth strategy and expectations, reflecting continued investment in brand awareness, e-commerce and international expansion.

In December the firm acquired PhD, a premium performance nutrition brand, for £32m.

The  deal doubled the size of the group, extended its product range and enhanced its international presence.

Stephen Moon, Science in Sport’s chief executive, said: “We were delighted to have acquired the PhD business and its excellent management team. Integration is on track to maximise the potential of the combined group.

“Our ambition is to build the world’s Number One premium performance nutrition business.

“In the last five years the Science in Sport business has delivered sales compound annual growth rate of 25% and with our proven strategy and the PhD acquisition, the board remains confident of continued strong growth in 2019 and beyond.”

“2018 was another period of very strong growth, the sixth consecutive year where SiS has significantly outperformed the sector.

“We saw strong performance in all online channels and international markets. Our strategy of consistent investment in brand equity, our best in class e-commerce platform and product innovation contributed to this success.

“Continuing improvements in factory and supply chain efficiencies underpinned a very robust gross margin. Our core business generated operating profits of £2m.”