SiS sales up 30% to £12.24m
EAST Lancashire-based sports nutrition specialist Science in Sport has announced a 30% increase in sales to £12.24m in the year to December 31 (2015: £9.94m).
In its pre-close trading update ahead of the publication of its financial results, SiS credited its success – including the doubling of direct sales – to investment in its scienceinsport.com platform.
Third-party online retailers and the grocery channel delivered robust growth. While High Street and independent retailers continue to face challenging conditions, SiS made healthy distribution gains in the independent channel.
Development of international markets was a key focus during the year for the company. The new Australian operation delivered sales ahead of plan.
Extra investment was made in e-commerce websites in the USA, Italy, Germany and the Netherlands in the second half of 2016. The USA and Italian markets will be a particular growth focus for SiS in 2017, the listed company said.
“Marketing investment resulted in increased brand awareness and usage, and this together with improvements in a range of other indicators, shows SiS brand to be in very good health and making significant progress versus its competitive set,” a statement said.
It said that ogether with capital investment in the company’s Nelson site in Lancashire, production line efficiencies reached new highs during the year, underpinning an improvement in gross margin despite Q4 currency related price increases. The outlook for margins remains positive, despite some slight increases in input costs.
SiS’ full year results will be released on March 23.
