Last checked at 5 Jan 2017 07:00
For immediate release | 5 January 2017 |
SCIENCE IN SPORT PLC
("SiS" or the "Company")
Pre-Close Trading Update
Science in Sport plc (AIM: SIS), a leading sports nutrition company that develops, manufactures and markets sports nutrition products for professional athletes and sports enthusiasts, is pleased to announce the following pre-close trading update ahead of the publication of its financial results for the 12 months ended 31 December 2016.
Sales increased 30% to £12.24 million in the 12 months to 31 December 2016 compared with the same period the previous year (2015: £9.45 million).
Investment in the Company's scienceinsport.com platform and operations resulted in a doubling of direct sales year on year. Third-party Online retailers and the Grocery channel delivered robust growth. While High Street and Independent retailers continue to face challenging conditions, SiS was pleased to make 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. Ex-plan 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.
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.
Together 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.
The Board remains confident of continued strong growth in 2017 and beyond. The Company intends to issue its full year results on Thursday 23 March 2017.
This announcement contains inside information.
For further information:
Science in Sport PLC |
+44 (0) 20 7400 3700 |
Stephen Moon, CEO |
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Elizabeth Lake, Finance Director |
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Cenkos Securities - NOMAD and Broker |
+44 (0) 20 7397 8900 |
Bobbie Hilliam |
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Yellow Jersey PR - Financial PR |
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Felicity Winkles | +44 (0) 7748 843 871 |
Harriet Jackson | +44 (0) 7544 275 882 |
Notes for editors
About Science in Sport plc
Science in Sport plc is a leading sports nutrition company that develops, manufactures and markets sports nutrition products for professional athletes and sports enthusiasts. SiS is a strong brand in the elite athlete community - in the 2016 London Olympics, 34 medal-winning athletes or teams used SiS products (compared with 24 in 2012).
The SiS core product ranges include: SiS GO, comprising energy powders, isotonic gels, energy bars and hydration tablets; SiS REGO, including protein-based recovery powders and bars; and SIS Protein, products specifically designed to contribute to athletes' lean muscle mass growth and maintenance. SiS products are sold in a range of retail channels, including specialist sport retailers, major grocers, high street retailers and e-commerce websites.
SiS is currently the official sports nutrition supplier to professional cycling team Team Sky, USA Cycling and Liverpool Football Club. Katarina Johnson-Thompson is an official brand ambassador and cyclist Mark Cavendish is also an elite sports consultant
SiS was founded in 1992 and is headquartered in Hatton Garden, London. Its manufacturing facility is in Nelson, Lancashire.
SiS shares are traded on the AIM market of the London Stock Exchange under the ticker symbol SIS.
For further information, please visit www.scienceinsport.com