Last checked at (Sharecast News) - Performance nutrition company Science in Sport said on Thursday that its financial position remained "robust" despite a recent slump in retail sales.
Although retail sales in all markets remained adversely affected compared with normal levels, the group stated it was making "very strong progress" with its e-commerce business.
The AIM-listed group also said pricing improvements and supply chain synergies were delivering an improved gross margin.
"The company's financial position remains robust given performance in line with our base scenario," said SiS.
"Despite the continued high degree of uncertainty from the Covid-19 pandemic and associated economic impact, our strategy remains unchanged, focusing on science-led innovation, building brand equity, taking our share of e-commerce business and developing global markets."
Science in Sport said it was "confident" that it was "well prepared" to deliver on its strategy and would provide further details on progress in its half-year results announcement on 16 September.
As of 1040 BST, Science in Sport shares were down 2.50% at 21.20p.
18 Jun 2015 16:47
Science in Sports appoints new director
Science in Sport, a sports nutrition company, appointed a new director as part of its growth strategy. Raymond Duignan will join the board next month as a non-executive director, bringing "extensive" experience in the consumer industry. Duignan set up Stamford Partners, a specalist investment bank,
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