Science in Sport responds to the Wright stuff

Science in Sport has revealed results to the market this morning that detail the remarkable turnaround of the sports nutrition business since its equity fundraising of £8.5m in July 2024.

Under executive chairman Dan Wright the business restructured the executive and leadership team with several senior roles exiting the business, it focused on profitable revenue streams and reviewed supplier and operational relationships.

The business, currently under offer by bd Capital, also made margin improvements that showed a dramatic reduction in top line revenue from £62.7m in 2023 to £51.9m in 2024, but also a reduction of pre-tax annual losses to £4.7m from £11.3m the previous year.

Underlying EBITDA increased to £4.2m (2023: £2.0m) which the company says is “consistent with expectations despite the lower revenue.”

Wright said: “Overall, 2024 has been a successful year of turnaround for the Group following the appointment of a new executive team in the final quarter of 2023. 

“This new team has been responsible for driving change and resetting the operating model of the business resulting in a performance of which we are ultimately proud but has proved challenging given the level of turnaround required. The new executive team brings together significant experience across a range of highly relevant sectors and a group who are focused on delivering value for shareholders.”

Though headquartered in London, Science in Sport plc has a significant operation base in Blackburn, and develops, manufactures, and markets innovative nutrition products for professional athletes, sports and fitness enthusiasts and the active lifestyle community. 

Its two main brands are PhD Nutrition and SiS, which is popular among elite athletes and professional sports teams, including Ineos Grenadiers cycling team, and Tottenham Hotspur, New York City and CGC Nice football clubs. 

Both brands sell through the company’s digital platforms, third-party online sites, including Amazon and ebay, and extensive retail distribution in the UK and internationally, including major supermarkets, high street chains and specialist sports retailers.