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Science in Sport losses deepen, tips more red ink in 2018

By BFN News | 07:53 AM | Wednesday 21 March, 2018

Sports nutrition company Science in Sport said annual losses deepened and that it expected to make a further loss in 2018. Pre-tax losses in 2017 amounted to £3.85m, compared to a loss in 2016 of £2.79m. Much of the red ink owed to share-based payments to executives under the company's remuneration plan. A widening underlying operating loss of £1.70m reflected 'the ongoing investment in sales and marketing to drive revenue growth;, the company said. Revenue increased by 28% to £15.62m, which the company said was significantly ahead of market growth forecasts for the sports nutrition sector. 'We are looking forward to another year of strong revenue growth in 2018,' chief executive Stephen Moon said. 'We expect gross margin to be consistent, given further factory efficiencies and favourable raw material prices.' 'Our innovation pipeline for 2018 and beyond is very healthy and will continue to be a key driver of progress.' 'We are investing substantially to develop our businesses in the US and Italy and in addition we have launched our new football business, underpinned by our recently announced exclusive nutrition partnership with Manchester United.' Story provided by

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