A sports nutrition business, which works with the likes of Manchester United and British Cycling, “overcame Brexit supply chain disruptions” to increase its revenue during the first half of the company’s financial year.
Science in Sport, which has major operations in Nelson and Blackburn, Lancashire, has reported a revenue of £29.2m for the six months to the end of June 2021, up from the £23.5m it reported for the same period in 2020.
The listed company’s pre-tax losses, however, widened slightly from £2.5m to £2.6m.
Online sales surged by 44% to £15.7m and now account for 54% of the company’s revenue.
Retail sales in the UK also increased by 8% to £8.4m while international sales went up by 6% to £5.2m.
In a statement issued to the London Stock Exchange, the business said that trading has been “strong” in the first two months of its second half and “while there are still some challenges and uncertainties, the group expects to exceed its revenue targets for the year”.
BusinessLive is your home for business news from around the North West- and you can stay in touch with all the latest news from Greater Manchester, Liverpool City Region, Cheshire, Lancashire and Cumbria through our email alerts.
You can sign up to receive daily morning news bulletins from every region we cover and to weekly email bulletins covering key economic sectors from manufacturing to technology and enterprise. And we’ll send out breaking news alerts for any stories we think you can’t miss.
Visit our email preference centre to sign up to all the latest news from BusinessLive.
For all the latest stories, views, polls and more, follow our BusinessLive North West LinkedIn page here.
Chief executive Stephen Moon 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.
Latest Lancashire Business News
“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.”