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Science in Sport PLC - London-based sports nutrition firm - Pretax loss widens to £5.3 million in 2021 from £2.3 million in 2020. The main reasons are share-based payment expenses of £2.9 million from a 2021 bonus award. In 2020, share-based payment expenses amounted to just £226,000. Another cost factor for 2021 was the strategic investment in technology and data science, the company explains. Data science includes the cloud software accounting policy change, which cost £728,000, Science in Sport says. The transition to the new Blackburn supply chain facility, which will start operations in April, cost £125,000.
Revenue grows by 24% to £62.5 million from £50.4 million, driven by nutrition brands PhD Nutrition and SIS. The former's revenue climbs by 19% in 2021, while SIS's rises by 30%. For March, Science in Sport expects record revenue. ‘Gross margin is robust with input price increases offset by supply chain efficiencies, favourable channel mix, and price increases implemented across all channels,’ the nutrition firm says. Prospects for further progress in 2022 look strong, it adds.
Current stock price: 62.00 pence, up 1.6% on Tuesday
12-month change: unchanged
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