AGM Statement and Half Year Trading Update

RNS Number : 9242S

Science in Sport PLC

30 September 2014

 



For immediate release

30 September 2014

SCIENCE IN SPORT PLC

("SiS" or the "Company")

AGM Statement and Half Year Trading Update

Science in Sport plc (AIM: SIS), a leading sports nutrition company, will hold its Annual General Meeting in London this morning. John Clarke, the Company's Chairman, will make the following comments, which include the pre-close trading update for the six months ending today, 30 September 2014.

"SiS joined AIM as an independently quoted company just over a year ago and I am very pleased with the progress that the Company has made to date. We have successfully delivered on our strategy of driving the sales growth of the SiS brand through consistent investment in marketing and selling, supporting this with a strong new product development pipeline and underpinning commercial progress with improving margins from our own low-cost manufacturing facility. We have enjoyed sales growth in all distribution channels and have successfully extended the footprint of the business through significant investment in geographic expansion and e-commerce. We intend to continue to deliver on our strategy and believe that the strength of the SiS brand and the resilience of the sports nutrition category create significant opportunities.

"We are pleased to report another period of strong sales growth in the six months to 30 September 2014, with sales up 23 per cent compared with the same period last year at approximately £4.92 million. This growth reflects strong sales across our whole product range and across all our sales channels.

"Our international sales and our e-commerce sales, both direct and through third-party e-tailers, have been particularly strong and underlying strong sales growth in major grocers has benefited further from an expanded distribution agreement with Sainsbury's. We remain confident of the outlook for continued revenue growth in the full year and beyond."

Science in Sport expects to issue its half year results in early December 2014.

For further information:

Science in Sport PLC	[phone]
Stephen Moon, Chief Executive Officer Vivienne Sparks, Finance Director
Cenkos Securities	[phone]
Bobbie Hilliam - NOMAD and Broker
Buchanan	[phone]
Mark Court / Sophie McNulty / Sophie Cowles
[e-mail]

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 2012 London Olympics, 24 medal-winning athletes or teams used SiS products.

The SiS core product ranges include: SiS GO, comprising energy powders, isotonic gels, energy bars and hydration tablets; and SiS REGO, including protein-based recovery powders and bars. 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 teams Rapha Condor JLT, Madison Genesis, Pro Team Astana, Team Katusha and Trek. SiS is also currently the official supplier of sports drinks and sports nutrition to the GB Rowing Team. In addition, Olympians Sir Chris Hoy MBE, Mark Cavendish MBE and Helen Jenkins are Elite Sports Consultants and brand ambassadors.

SiS was founded in 1992 and is headquartered in London. Its manufacturing and product development 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

 

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