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Science in Sport losses widen on increased investment spending

By BFN News | 08:17 AM | Wednesday 19 September, 2018

Science in Sport said first-half losses deepened after increased costs, including marketing spending, offset a rise in revenue. Pre-tax losses for the six months through June amounted to £2.7m, compared to losses of £2.2m on-year. Revenue rose 20% to £9.9m. 'We have achieved yet another period of substantial growth, which saw revenue increase 20% year on year, in line with expectations,' chief executive Stephen Moon said. 'Post period end we have seen very strong growth in the three months to August as new initiatives generate increased revenue in the second half as planned.' 'Group operating losses reflect the increased investment in new international markets, football and our e-commerce platform.' 'The core business has moved into profit at the half year for the first time as we leverage the advantage of a strong gross margin and tightly controlled costs.' 'Having reached the milestone of profitability in our core business and with promising early signs in the US, we are very confident for the future of the Science in Sport brand.' At 8:17am: (LON:SIS) Science In Sport Plc share price was +0.8p at 70.5p Story provided by

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