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Science in Sport reports six months of strong sales growth

By BFN News | 07:43 AM | Thursday 21 July, 2016


Science in Sport has reported another period of strong sales growth in the six months to June 30, and significant progress in execution of the company's growth strategy. Sales increased 24% to £6.48 million in the six months to 30 June 2016 compared with the same period for the previous year (H1 2015 £5.24 million). "Sales growth was particularly strong via the Company's website and from third party online retailers. Growth in international markets was also strong, and the recently launched Australian business is trading in line with expectations," the company said. "The Company increased its database of customers on its own website significantly ahead of target. "International expansion of the scienceinsport.com trading platform is to accelerate in the second half of the year, with July seeing websites launch in the new markets of USA and Germany, and native language websites launched in the existing markets of Italy and Holland. "Costs remain tightly controlled and the Company is in a strong financial position with over £6.5 million of net cash, leaving it well placed to exploit further growth opportunities as they arise. The Board remains confident of the outlook for the full year and beyond." Story provided by StockMarketWire.com

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