22nd Nov 2019 10:21
(Alliance News) - Science in Sport PLC on Friday said its sales are expected to beat market expectations, while it no longer expects to report profit for 2019.
The AIM-listed nutrition company said it has made "rapid" progress so far in 2019, with sales growth expected to be slightly ahead of market expectations.
However, Science in Sport said the previously expected small earnings before interest, tax, depreciation and amortization of GBP300,000 for the year is now anticipated to be a small Ebitda loss.
Looking forward, the company said its outlook for the reminder of 2019 and 2020 continues to be "strong", underpinned by a "robust" innovation pipeline, operational progress and a continued strategic focus on e-commerce and international markets.
"Gross margin remains robust, costs are tightly controlled and our cash position is healthy, allowing us to be confident in our long term growth trajectory," said Chief Executive Stephen Moon.
Science in Sport shares were trading 1.3% lower in London on Friday at 47.40 pence each.
By Evelina Grecenko; [email protected]
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