Sales at Aim-listed Liverpool FC nutrition supplier Science in Sport rise by almost a quarter in first half
Sales at Aim-listed fitness nutrition group Science in Sport raced ahead to grow by almost a quarter in the first half of this year.
The figures
Revenues at the firm, which is the official sports nutrition partner to Liverpool Football Club, increased 24 per cent to £6.48m in the six months to 30 June.
E-commerce and third-party online retailers were behind the first-half boost, while new product development and launches continued "at pace" and contributed 35 per cent of revenue growth.
Read more: Liverpool named as football's selling club of the decade
The company posted an underlying operating loss of £396,000, in line with market expectations and its growth strategy.
Science in Sport shares were trading up one per cent to 68.4p per share just before the close of market today.
Why it's interesting
International expansion also delivered strong growth over the first half, including a successful launch in Australia, where the company has said business is trading in line with expectations.
In August, the company's share price shot up almost a quarter on an agreement to become the official fitness nutrition supplier to USA Cycling.
The group is eyeing up continued investment in marketing and growing its online customer database.
What Science in Sport said
Chief executive Stephen Moon said:
I am pleased to announce yet another period of substantial growth for SiS, which was in line with our expectations, and saw our revenues increase 24 per cent year-on-year.
We have invested heavily in digital marketing and product sampling during the first half, and the benefits are evident in the growth we are achieving, which we believe is significantly ahead of our market peers.
Trading is in line with market expectations and reflects the continued investment in brand awareness and growing the customer database, together with our expansion into Australia.