Science in Sport reports 24% revenue growth

Science in Sport has released its interim results for the six months ending 30th June, with revenue up 24% to £29.3 million.

Group gross margin percentage increased to 52% from 48%. Underlying EBITDA improved by £0.8 million to £0.6 million, which was after c.£0.7 million of one-off Brexit-related costs, said the company.

Online sales were up 44% to £15.7 million, supported by increased investment, and retail sales returned to growth despite pandemic restrictions in many key markets – UK retail sales were up by 8% to £8.4 million and international retail sales were up by 6% to £5.2 million.

Stephen Moon, chief executive officer of Science in Sport plc, said: “Trading over the first half of the financial year recovered well, gaining momentum as coronavirus pandemic restrictions lifted. The Group returned to over 20% revenue growth, overcoming Brexit supply chain disruptions.

“Gross margin percentage and underlying profitability continued to improve. This reflected last year’s strategic progress and continued investment in our premium brands and online capability.

“The second half has started strongly for us, and we are continuing to manage successfully input cost pressure. While uncertainties remain, we expect to exceed revenue targets for the year, and continue to be very optimistic about growth prospects over the medium and long-term.”

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