Science in Sport shares suspended

Trading in the shares of AIM-listed Science in Sport has been suspended after the company was unable to meet its auditing deadline.

The company announced that it has not been able to publish its audited financial statements for the year ended 31 December 2022 by the six month deadline, as final sign off from the auditors is still outstanding.

Science in Sport had previously published unaudited results which showed revenues of £63.8m, but a pre-tax loss of more than £10m. This followed last year's pre-tax loss of more than £5m.

Science in Sport produces a range of nutritional products designed for athletes around in the world. In 2022 it opened a major manufacturing and distribution facility in Blackburn.

On publishing the unaudited results, Stephen Moon, chief executive officer had said: "After a good start to 2022, input price inflation, a challenging consumer environment, and supply chain issues related to global events adversely affected us.

"In 2023, we are well set for profitable growth, as evidenced by sales growth over the last four months. Our retail business, domestically and internationally, is delivering profitable growth.

"Our brands are healthy, and the innovation pipeline is strong. With improved margins in all channels and markets and building revenue momentum, we are confident of executing our 2023 plan. Our goals for the year are profitable growth, a healthy EBITDA margin, and cash breakeven. Our medium and long-term ambitions remain unchanged."