Applied Nutrition smashes sales targets in first update since float
Applied Nutrition has had a storming start to its life as a listed company and has exceeded its £46m revenue target for the first half of the financial year.
In its first trading update to the stock market this morning the Liverpool-based sports nutrition, health and wellness brand said it had made revenues of £47.6 million, which it said were “comfortably ahead of guidance” provided at the time of the IPO of £46 million.
The company said underpins their full year guidance of £100 million revenue and says adjusted EBITDA margin and cash conversion, are also in line with market expectations.
Chief executive Thomas Ryder, who will be the keynote speaker at the Rainmakers conference on the 26th of March said: “Our successful IPO in October has had the positive impact we hoped for on the profile of Applied Nutrition and our industry recognition. I am pleased to report we have made strong progress in the first half, delivering performance ahead of our IPO guidance. Our growing global customer base highlights our appeal to a wide range of consumers, from everyday health-conscious individuals to professional athletes who rely on trusted sports nutrition products to fuel their performance.”
He reaffirmed the growth strategy outlined at IPO of taking the brand global.
“This is underpinned by our in-house New Product Development (NPD) engine and supported by our strong partnerships. We are running into the second half of the year with confidence and remain committed to delivering our vision of being the world’s most trusted and innovative sports nutrition, health and wellness brand.”
The business has launched new products in Canada across major speciality retail chains, expanded to six new countries in South America, dispatched first orders through a new Asian partner, initially selling in Singapore and in the US, has launched the ‘AN Performance’ range with The Vitamin Shoppe across over 700 stores nationwide in addition to launching a collaboration with global fruit brand Chiquita.
The company has also attended five expo events in the Middle East and UK since IPO with further expos in United Arab Emirates, Columbia, and USA over the next three weeks
In the UK the Coleen Rooney wellness supplements have been added to the ‘Applied Nutrition’ range and will be stocked nationwide in Holland and Barrett from March.
New product innovations include Sparkling Protein Water, Creaflow, Blackstak, and Creatine Gummies.
Last week the business launched a new Vimto Isotonic Energy Gel! 
