Sales top £20m at Science in Sport

AIM-listed Science in Sport has announced group sales of £21.3m in 2018, representing an increase of more than a third.

Science in Sport Adam Peaty

The Nelson-based endurance sports nutrition company acquired PhD Nutrition in December, which contributed £1.5m. Much of the rest of the growth is attributed to strong online sales which followed the implementation of a new e-commerce platform in March.

Total sales increased from £15.6m in 2017 to £21.3m in 2018, marking a 27 per cent increase in the first six months and 34 per cent in the second half of the year. Online sales accounted for £11.2m, of which £6.4m was through, a year-on-year increase of 40 per cent.

The rapid pace of SiS international growth continued, increasing 55 per cent to £6.8m. Key markets include USA, Italy and Australia, with the company also launching in China in 2o18.

The year also saw the company agree elite ambassador agreements with Olympic and World Champion swimmer Adam Peaty and cyclist Mark Cavendish, and SIS became the official sports nutrition partner of Manchester United. Stephen Moon, chief executive of SIS, said: “Our consistent strategy of investment in brand and innovation produced a strong performance in line with our expectations. We remain committed to an omni-channel strategy, however our focus on the growth drivers of the business and developing international markets produced exceptional results."