First Day of Dealings

RNS Number : 3254L

Science in Sport PLC

09 August 2013

 

For immediate release

9 August 2013

SCIENCE IN SPORT PLC

("SiS" or the "Company")

First Day of Dealings

Science in Sport plc (AIM: SIS), a leading sports nutrition company, is pleased to announce the commencement of dealings in its Ordinary Shares on the AIM market of the London Stock Exchange at 8.00am today under the ticker symbol SIS.

Highlights

·      SiS develops, manufactures and markets sports nutrition products for professional athletes and sports enthusiasts. SiS has a strong brand in the elite athlete community and its brand ambassadors include UK Olympians Sir Chris Hoy, Helen Jenkins and Rebecca Romero

·      Sports nutrition is a growth market worth £19.6 billion globally in 2010; between 2005 and 2010, sales of sports foods grew 300 per cent and sales of sports drinks grew 41 per cent*

·      The SiS product range, underpinned by scientific expertise within SiS, includes isotonic gels, energy powders, hydration tablets, cereal-based energy bars and a range of recovery and protein products. They are sold through various retail channels including the Company's website www.scienceinsport.com

·      The SiS management team has extensive experience of sports nutrition and includes John Clarke, the former President of GlaxoSmithKline Consumer Healthcare, as Chairman and Stephen Moon, a former senior executive in GlaxoSmithKline's Nutritional Healthcare business, as CEO

·      In the year ended 31 March 2013, SiS reported net turnover of £5.5 million and an underlying profit of £0.1 million. Sales growth was 17 per cent in the six months to 31 March 2013 and 25 per cent in the fourth quarter. Sales momentum has continued in the current financial year

·      SiS has been admitted to AIM following a demerger from Provexis plc. The Company has raised net proceeds of £1.7 million via a Placing at 56p per share. The market capitalisation of SiS at the Placing Price is approximately £10.9 million

Stephen Moon, CEO of Science in Sport plc, commented: "Demerging Science in Sport from Provexis plc has created two companies with distinct identities. At Science in Sport, we look forward to driving the growth of the SiS brand. With current sales momentum, and the continued resilience of the sports nutrition category, the Board believes that SiS is well positioned for strong growth in the current year and beyond."

*Source: The Global Market for Sports Performance and Energy Products, a report by Leatherhead Food Research (April 2011)

For further information:

Science in Sport PLC	[phone]
Stephen Moon, CEO
Cenkos Securities	[phone]
Bobbie Hilliam - NOMAD and Broker
Buchanan	[phone]
Mark Court / Sophie McNulty / Fiona Henson
[e-mail]

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 cycling teams Rapha Condor JLT, Belkin Pro Cycling, Madison Genesis, Pro Team Astana and Team Katusha. SiS is also currently the official supplier of sports drinks and sports nutrition to the GB Rowing Team. In addition, Olympians Sir Chris Hoy, Helen Jenkins and Rebecca Romero are official brand ambassadors.

SiS was founded in 1992 and is headquartered in Windsor, Berkshire. 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

 

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