22nd Sep 2016 07:55
LONDON (Alliance News) - Sports nutrition company Science in Sport PLC on Thursday said it is focusing on online sales and international development, after growing revenue by 24% in the first half of 2016.
Science in Sport said its revenue for the six months ended June 30 was GBP6.5 million, up from GBP5.2 million a year earlier, boosted by particularly strong international and e-commerce sales. This reflected its continued investment in brand awareness and e-commerce technology, the company said.
Science in Sport's pretax loss narrowed to GBP681,000 from GBP984,000, as it continued to invest in marketing, sales and e-commerce over the period. Science in Sport said it will focus this investment in the second half in the e-commerce area, which will support further growth. The company said it seeks to take further market share across retail channels, after it saw good progress in its grocery channel in the first half.
The company said since the end of the first half, it has launched Science in Sport Immune, an effervescent tablet designed to support and maintain the immune function during and after exercise. Science in Sport said the product pipeline for 2017 and 2018 is "very promising".
"We are seeking to achieve continued strong revenue growth in the remaining half 2016. Online sales and international development are a major focus for management, this underpinned by consistent marketing and promotional investment," Science in Sport said in a statement.
Shares in Science in Sport were untraded on Thursday, having last traded at 68.75 pence.
By Hannah Boland; [email protected]; @Hannaheboland
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