Science in Sport plc
(“Company” or “Group”)
Half-Year Trading Update
Science in Sport plc (AIM: SIS), the premium performance nutrition company serving elite athletes, sports enthusiasts, and the active lifestyle community , announces a trading update for the six months to 30 June 2022.
Revenue growth for the period is expected to be approximately 12% versus the same period in FY21, which is lower than expected. We believe that our growth will improve in the second half through investment in brands and our digital channels, and through improved pricing.
Our current assessment of external factors indicates an adverse £3.2m of costs or margin loss for the year compared to budget. This includes raw material price increases, fuel and logistics costs, people retention costs, and closure of our Russian business.
The new Blackburn site is close to completion, with the logistics operation delivering the expected efficiencies and cost savings in line with the business case. The gel machine is being installed, and the site will be fully operational by the end of July.