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Science in Sport posts loss as revenue rise offset by spending

By BFN News | 02:34 PM | Wednesday 18 March, 2020

Performance nutrition group Science in Sport posted a full-year loss, after rising revenue was accompanied by a jump in operating expenses. Pre-tax losses for the year through December amounted to £5.1m, compared to losses of £6.0m on-year. Revenue grew 23% to £50.6m, reflecting the first full year contribution of the acquired PhD business, and strong organic growth by both brands. Underlying operating losses amounted to £0.3m, reflecting continued investment in brand awareness, e-commerce and international expansion. '2019 was a transformational year for Science in Sport as we integrated the PhD business as planned and continued our strategic growth focus on e‐commerce and international, positioning the Group for the next stage of its growth,' chief executive Stephen Moon said. 'Our preparations for Covid-19 disruption have been underway for several weeks and measures include buying sensitive raw materials, securing the supply chain operation, and remote working for commercial and operations staff.' 'Costs are being managed very tightly and contingency plans are in place.' 'We are well prepared to protect the company and its workforce should the impact from Covid-19 become extended.' At 2:34pm: (LON:SIS) Science In Sport Plc share price was +0.5p at 33p Story provided by

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