Health supplement distributor powers ahead with European expansion
York-based bodybuilding and health supplement distributor Power Body Nutrition is pushing ahead with international expansion plans while predicting 58% turnover growth for 2018.
The company was launched in 2007 and supplies more than 8,000 products from more than 150 brands to a variety of shops and gyms around the UK and in Europe.
Power Body Nutrition is continuing to expand its export operation. In January turnover was over £2m, an 83% growth on turnover in the same month in 2017.
The business has appointed York and Leeds-based accountancy firm Garbutt + Elliott to provide a range of accountancy and financial services to support the continued rapid development of the company, especially its international trade plans, including expanding its distribution in Europe.
A new warehouse in Dunnington has enabled Power Body Nutrition to significantly increase the variety of supplements stocked and available to customers.
Arthur Magnuszewski, finance manager at Power Body Nutrition, said: “We have grown rapidly since launching our businesses and we have ambitious plans for further expansion in Europe and beyond.
“Our new warehouse has enabled us to significantly increase the variety and quantity of products we stock and we have been able to increase our exports as a result.”
Garbutt + Elliott partner Jeremy Oliver said: “Power Body Nutrition is a growing business with ambitious plans for further expansion in Europe and around the world. We are pleased to have provided them with financial projections which have already helped to secure some much-needed growth finance for working capital.
“This is a great business success story for York. We are confident our input and support to the Power Body Nutrition team to date is the start of a long and successful partnership, and we look forward to being a part of their continued success.”
