29th Mar 2022 12:33
Science in Sport PLC - London-based sports nutrition firm - Pretax loss widens to GBP5.3 million in 2021 from GBP2.3 million in 2020. The main reasons are share-based payment expenses of GBP2.9 million from a 2021 bonus award. In 2020, share-based payment expenses amounted to just GBP226,000. Another cost factor for 2021 was the strategic investment in technology and data science, the company explains. Data science includes the cloud software accounting policy change, which cost GBP728,000, Science in Sport says. The transition to the new Blackburn supply chain facility, which will start operations in April, cost GBP125,000.
Revenue grows by 24% to GBP62.5 million from GBP50.4 million, driven by nutrition brands PhD Nutrition and SIS. The former's revenue climbs by 19% in 2021, while SIS's rises by 30%. For March, Science in Sport expects record revenue. "Gross margin is robust with input price increases offset by supply chain efficiencies, favourable channel mix, and price increases implemented across all channels," the nutrition firm says. Prospects for further progress in 2022 look strong, it adds.
Current stock price: 62.00 pence, up 1.6% on Tuesday
12-month change: unchanged
By Tom Budszus; [email protected]
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