Science in Sport hoping for Tour de France boost

SCIENCE in Sport, the developer of sports nutrition products, has posted a surge in annual revenues.

The AIM-listed company which has its manufacturing and product development facility in Nelson, Lancashire, said it was making good progress and hoping to capitalise on the hosting of the start of the Tour de France in the UK.

SiS, which counts Olympians Sir Chris Hoy and Mark Cavendish as elite sports consultants and brand ambassadors, said revenues in the year to the end of March has risen 24% to £6.85m on the back of strong growth across all selling channels.

It posted an underlying operating loss of £400,000 compared with a £230,000 profit last year. It said this was in line with management expectations and was the result of investment in revenue growth.

Highlights included appointing European and Asia Pacific distributors and making substantial investment in e-commerce, which its said delivered strong year on year online growth.

Chief executive Stephen Moon, said: “These full year results highlight the continuing momentum in sales growth for the year, far outstripping the sector growth for the sports nutrition category.

“We have seen solid growth in our heartland of independent cycle, running and triathlon stores, with very strong growth in major grocers and high street chains through a combination of new distribution outlets and an increased rate of sale.

“Much resource and investment has been directed towards international sales and e-commerce sales and it is pleasing to report very strong performances in both these channels.

“I am pleased to say that sales momentum has carried into the new financial year, and we remain confident of achieving strong growth in the coming financial year, as we capitalise on growth opportunities including the Tour de France visiting the UK.”

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