Last checked at 9 Jul 2019 07:00
9 July 2019
SCIENCE IN SPORT PLC
("SiS", "Company" or "Group")
Half Year Trading Update
and Notification of Results
Science in Sport plc (AIM: SIS), the premium performance nutrition company serving elite athletes, sports enthusiasts and the gym lifestyle community, is pleased to announce its pre-close trading update for the six months ended 30 June 2019.
Group revenue for the six month period was £24.9m, up 152% compared with the same period last year (H1 2018: £9.9m) reflecting the acquisition of PhD Nutrition Ltd ("PhD") in December 2018 and strong growth of the SiS brand. On a like-for-like basis, total Group sales grew 21%.
The PhD brand traded in line with expectations in the six month period, with half year sales up 16% at £12.4m (H1 2018 pro forma £10.7m*). International sales were up 58% while UK sales were up 7%.
The SiS brand's sales were up 25% in the period at £12.5m (H1 2018: £9.9m) driven by international growth, up 55%. Growth in the UK was up 10% and sales from the SiS website were up strongly at 52%.
Integration of the two businesses is progressing well and is in line with our plan and expectations. Important milestones achieved in the first half include relaunching the PhD.com website, opening an e-commerce fulfilment facility and exploiting international distribution synergies, for example the PhD brand has been launched in a number of existing SiS markets.
Further international initiatives are anticipated in the current half year, including the test marketing of PhD in the US this summer and the Middle Eastern launch of the SiS brand via PhD's existing distribution.
New product launches during the period included PhD's vegan Smart Bar Plant, which is already PhD's fourth best-selling product, and the SiS brand's innovative range for footballers of all levels. Planned launches in the current half include the SiS vegan Plant20 Bar.
The Group's cash position at the half year remained strong at £5m.
The Group continues to trade well and remains in line with market expectations for the full year.
Notification of Half Year Results
The Company will issue its financial results for the six months ended 30 June 2019 on Wednesday 18 September 2019. A meeting for analysts will be held on the morning of the results announcement at 9.30 am at the offices of Buchanan, 107 Cheapside, London EC2V 6DN. For further information please phone Buchanan on 020 7466 5000 or email ScienceInSport@buchanan.uk.com.
*For meaningful comparison, pro forma numbers have been used for PhD H1 2018 when the business was not owned by the Group.
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Notes to Editors
About Science in Sport plc
Science in Sport plc is a leading sports nutrition business that develops, manufactures and markets innovative nutrition products for professional athletes, sports and fitness enthusiasts and the gym lifestyle community. The Company has two highly regarded brands: PhD Nutrition, a premium protein brand targeting gym lifestyle and sports enthusiasts, and SiS, a leading brand among elite athletes and professional sports teams.
The two brands are sold internationally through multiple retail channels, both traditionally and online, including major supermarkets and high street chains, specialist sports retailers and e-commerce sites including Amazon and the brands' own websites. They enable the Company to address the full breadth of the performance nutrition market currently estimated at approximately £10 billion worldwide.
PhD is one of the UK's leading protein brands with a reputation for high quality and product innovation. The brand has grown rapidly, based on its core protein powders, since launch in 2005. The range now comprises powders, bars, flapjacks, drinks and other products including the high protein, low sugar range, PhD Smart. PhD is the exclusive sports nutrition supplier to David Lloyd Clubs and its brand ambassadors include rapper Bugzy Malone, WBA international champion Jordan Gill and Team GB Olympic sprinter Asha Philip.
SiS, founded in 1992, has a core range comprising gels, powders and bars focused on energy, hydration and endurance. SiS is the official sports nutrition supplier to many professional cycling teams and organisations including Team INEOS, British Cycling, Cycling Australia, USA Cycling and USA Triathlon. SiS supplies more than 80 professional football clubs in the UK and is an official partner to British Triathlon and the Rock 'n' Roll Marathon Series. SiS brand ambassadors include Olympians Sir Chris Hoy MBE, Mark Cavendish MBE and Adam Peaty MBE.
Science in Sport is headquartered in London. Its shares joined the AIM market of the London Stock Exchange in August 2013 and trade under the ticker symbol SIS.
For further information, please visit www.scienceinsport.com