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Science in Sport PLC on Thursday announced the conclusion of its strategic review, while noting that revenue rose in the first quarter. The London-based sports nutrition company said revenue in the first quarter to March 31 rose by 2.3% to £15.6 million, noting that it was affected by global destocking by Amazon.com Inc and Covid in China during January and February. The company said that its growth and efficiency plan is delivering in line with management’s expectations. It explained it is on track for a growth trajectory like that of 2012 to 2021, when its compound annual growth rate of brand sales was 23%. Further, it boasted ‘a high level of confidence’ in its profitable growth plan aiming to build to industry profitability benchmarks. Science in Sport shares rose 2.4% to 8.70 pence each in London on Thursday morning. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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