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Buoyed by PhD acquisition, Science in Sport reports 150% growth in H1

Published September 18, 2019

LONDON (BRAIN) — Science in Sport, marketer of the SiS brand of sports nutrition, reports group revenue increased 150% in the first six months of this year compared to the same period last year.

For the first half that ended June 30, revenue rose to $27.5 million (24.9 million euro). The growth was spurred by the contribution of PhD Nutrition, which Science in Sport purchased in December 2018. SIS also credits "strong organic growth" from the SiS brand as well.

PhD revenue went up 16% to $13.7 million (12.4 million euro) from H1 last year, which was record growth for the brand. SiS increased 26% to $13.8 million (12.47 million euro). SiS also reports 56% growth in total revenue from international markets, which account for 33% of total revenue across both brands.

"The integration of the PhD and SiS brands remains firmly on track, and we are particularly excited by the potential of the e-commerce business," said SiS CEO Stephen Moon. "Important milestones achieved in the first half include relaunching the website, opening an e-commerce fulfillment facility and exploiting international distribution synergies, as well as the integration of teams across both brands."

The focus on e-commerce sales resulted in a 52% increase in sales in the first half of this year. New products launched in the past year also contributed to 32% of the group sales growth, including PhD's Smart Bar Plant and SiS's Football range of products.

PhD will release a new protein powder in November, Moon said.

"We remain confident of delivering on full year expectations, and of the future growth of both our brands," Moon said. "Investment in performance innovation, brand awareness, e-commerce, international and effective manufacturing will underpin expected growth in 2020 and beyond."

Topics associated with this article: Earnings/Financial Reports

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