AGM Statement

RNS Number : 5581D

Science in Sport PLC

27 June 2019

 

27 June 2019

SCIENCE IN SPORT PLC

("SiS", "Company" or "Group")

AGM Statement

Science in Sport plc (AIM: SIS), the premium performance nutrition company serving elite athletes, sports enthusiasts and the gym lifestyle community, will this morning hold its Annual General Meeting ("AGM").

At the AGM, John Clarke, the Chairman of Science in Sport, will make the following statement:

"As expected, 2019 is proving to be transformational for the Group following the acquisition in December last year of PhD Nutrition, which doubled the size of our business.  In the year to date, we have made significant progress both in the integration of the PhD brand and in trading across the Group in the UK and internationally.

 "Trading at PhD is in line with our expectations and the integration plan remains firmly on track. We have already added to PhD's international distribution by launching it in existing SiS markets, including Italy and Turkey.  In addition, we will launch a US test market for PhD this summer.

"We have successfully relaunched the PhD website, as part of a strategy to drive online sales, and initial performance metrics are encouraging. We also opened a new e-commerce facility to support PhD's online growth. The facility will deliver efficiencies through the integration of PhD's and SiS's online fulfilment.

"PhD's new product launches in the first half include the vegan Smart Plant Bar, an innovative, high protein, plant-based bar. Initial sales have been very encouraging and we expect to extend the product's retail distribution later this year.

"Online sales at our SiS brand continue to grow strongly. Recent new product launches by the brand include an innovative range targeting footballers at all levels. The range is based on SiS's experience of supplying professional clubs over many years with specially formulated energy, hydration and recovery products. Football remains a significant long-term growth opportunity for the Group.

"International growth plans for the SiS brand include initiating sales in the Middle East later this year via PhD's existing distribution. 

"Our focus in the year ahead is on the integration of PhD and on the continued momentum across our sales platforms in the UK and internationally."

The Group's pre-close trading update for the six months ending 30 June 2019 is expected to be issued in the week commencing 8 July 2019.

For further information:

Science in Sport plc Stephen Moon, Chief Executive Officer Elizabeth Lake, Chief Financial Officer	[phone]
Liberum Capital Ltd Nominated adviser and broker Clayton Bush Chris Clarke James Greenwood	[phone]
Buchanan Communications Financial PR Mark Court Vicky Hayns Tilly Abraham	[phone] [e-mail]

Notes to Editors

About Science in Sport plc

Science in Sport plc is a leading sports nutrition business that develops, manufactures and markets innovative nutrition products for professional athletes, sports and fitness enthusiasts and the gym lifestyle community. The Company has two highly regarded brands: PhD Nutrition, a premium protein brand targeting gym lifestyle and sports enthusiasts, and SiS, a leading brand among elite athletes and professional sports teams.

The two brands are sold internationally through multiple retail channels, both traditionally and online, including major supermarkets and high street chains, specialist sports retailers and e-commerce sites including Amazon and the brands' own websites.  They enable the Company to address the full breadth of the performance nutrition market currently estimated at approximately £10 billion worldwide.

PhD is one of the UK's leading protein brands with a reputation for high quality and product innovation. The brand has grown rapidly, based on its core protein powders, since launch in 2005. The range now comprises powders, bars, flapjacks, drinks and other products including the high protein, low sugar range, PhD Smart. PhD is the exclusive sports nutrition supplier to David Lloyd Clubs and its brand ambassadors include rapper Bugzy Malone, WBA international champion Jordan Gill and Team GB Olympic sprinter Asha Philip.

SiS, founded in 1992, has a core range comprising gels, powders and bars focused on energy, hydration and endurance. SiS is the official sports nutrition supplier to many professional cycling teams and organisations including Team INEOS, British Cycling, Cycling Australia, USA Cycling and USA Triathlon. SiS supplies more than 80 professional football clubs in the UK and is an official partner to British Triathlon and the Rock 'n' Roll Marathon Series. SiS brand ambassadors include Olympians Sir Chris Hoy MBE, Mark Cavendish MBE and Adam Peaty MBE.

Science in Sport is headquartered in London. Its shares joined the AIM market of the London Stock Exchange in August 2013 and trade under the ticker symbol SIS.

For further information, please visit www.scienceinsport.com

 

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