Blog: Science in Sport overcomes Brexit supply chain disruption to increase half-year revenue – Business Live

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.

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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”.

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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.

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“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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