27th Jun 2019 14:35
(Alliance News) - Science in Sport PLC on Thursday said it is trading in line with expectation and is planning to launch new products as well as advance online sales.
Ahead of its annual general meeting, the nutrition company said 2019 is proving to be "transformational" following the acquisition of PhD Nutrition in December last year, which doubled the size of the company.
"In the year to date, we have made significant progress both in the integration of the PhD brand and in trading across the group in the UK and internationally," said Chair John Clarke.
Science in Sport noted trading at PhD, a cheap bodybuilding supplements distributor, is in line with its expectations. The company said it has already launched PhD products in its existing markets, including Italy and Turkey.
"In addition, we will launch a US test market for PhD this summer," noted Clarke.
Science in Sport has relaunched the PhD website, as part of a strategy to drive online sales, and opened a new e-commerce facility to support PhD's online growth.
PhD's new product launches in the first half include the vegan Smart Plant Bar, a high protein, plant-based bar. Meanwhile, new products launched by Science in Sport include a range of energy, hydration, and recovery products targeting footballers.
"Our focus in the year ahead is on the integration of PhD and on the continued momentum across our sales platforms in the UK and internationally," concluded Clarke.
Science in Sport will issue trading update for the six months to the end of June on July 8. The stock was trading 4.3% higher on Thursday afternoon at 61.00 pence a share in London.
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