Science in Sport revenues improve as global expansion continues
Science In Sport
26.50p
16:55 01/11/24
British sports nutrition outfit Science in Sport expects to trade in line with market expectations, having reported a hefty increase in full-year sales .
Food Producers & Processors
8,210.85
17:14 01/11/24
FTSE AIM All-Share
739.00
16:54 01/11/24
Revenues shot up 36.54% to £21.3m, while underlying sales grew 27% to £19.8m.
The AIM-listed group turned in a particularly good performance from its online wing, which reported a 29% improvement year-on-year to £11.2m and also saw the rapid pace of its international expansion continue with foreign sales jumping 55% to £6.8m.
SIS credited its "ahead of sector norm revenue growth" to its expansion and delivery into the strategic markets of USA, Italy, Australia and China.
Chief executive Stephen Moon said: "Our consistent strategy of investment in brand and innovation produced a strong performance in line with our expectations."
"We remain committed to an omni-channel strategy, however our focus on the growth drivers of the SiS.com business and developing international markets produced exceptional results."
As of 0910 GMT, SIS shares had picked up 2.71% to 54.95p.