Applied Nutrition exceeds forecasts in maiden results
Liverpool based energy products business Applied Nutrition has made profits of £11.8m on turnover of £47.6m in its half year figures, the first firm report to the stock market since its float in October 2025.
The sales number was “comfortably ahead” of guidance provided at the time of the float and gives confidence the business will hit its full year revenue guidance of £100m and in a statement the company said it would “re-iterate the full year outlook for profitability and cash flow to be in line with market expectations.”
The pre-tax profit of £11.8m however was down 22% on last year’s comparable figure of £16m.
There was some volatility in sales numbers as a result of the crisis in the Red Sea, which affected shipping of products to the Middle East.
In the medium term the company said it does not expect to be materially impacted by changing US tariffs. The company could mitigate the impact by moving production of liquid products currently produced in the UK to being manufactured in the US.
Thomas Ryder, CEO of Applied Nutrition, said: “We are pleased to have announced a positive set of maiden results, ahead of what we said we would do at the time of IPO, with the Company delivering strong growth, expanding globally, and driving innovation in our industry. This has been a period of significant milestones and progress – our IPO in October, launching our first TV advert to promote our products starring Coleen Rooney, developing relationships with exciting new customers, and expanding into new geographies.
Thomas Ryder at Rainmakers
Ryder, who shared the Applied Nutrition story with attendees at the Rainmakers conference on 26 March 2025, said the float has boosted the brand awareness of the business.
“The interest in our brand since our IPO has reached new heights and we are very grateful for the strong support we have received from our customers, partners and shareholders,” he said.
“Our ambition remains as strong as ever and this has underpinned the strong growth and strategic progress we have achieved in the period – expanding our presence with our current customers, winning new customers, entering new geographies and creating new products that, most importantly, our customers love. This hard work positions us well for the future, and I would like to thank our team for their relentless enthusiasm, commitment and delivery.
“We have set a strong foundation for the second half and beyond. We have the right ingredients to deliver on the broad range of opportunities ahead of us and remain committed to delivering our vision of being the world’s most trusted and innovative sports nutrition, health and wellness brand.”
As a result of its admission to the London Stock Exchange the company incurred £3m of costs associated with the Initial Public Offering of which £1.2 million were recognised in the year ended 31 July 2024 and the remainder, £1.8 million, in the half year ended 31 January 2025.
The business floated at 143p in October, but shares have fallen sharply since then, and have been trading between 106p and 107p this morning (7 April 2025).
