|
Applied Nutrition PLC on Monday reported an interim profit decline, as surging administrative costs outpaced revenue growth. The Liverpool-based sports nutrition brands company said pretax profit fell 27% to £11.8 million in the six months to January 31, from £16.1 million a year ago. Applied Nutrition shares fell 5.6% to 104.80 pence each on Monday morning in London, giving it a market capitalisation of £262.0 million. Revenue climbed 4.8% to £47.6 million from £45.4 million. Cost of sales increased 11% to £25.3 million from £22.7 million, while administrative costs were 61% higher, at £10.8 million compared to £6.7 million. The company highlighted ‘exceptionally strong year-on-year growth’ in the UK of around 34%, ‘driven by further penetration of existing customers and winning new customers’. Applied Nutrition said trading since the half-year end remains ‘strong’, as it expects annual revenue of £100 million for the financial year ending in late July. The company had started trading on London’s Main Market in October 2024. Pertinently, the company said it does not expect to be materially impacted by changing US tariffs. ‘The group has a number of options open to it to mitigate impact such as moving production of liquid products currently produced in the UK to being manufactured in the US,’ it explained. Looking head, Applied Nutrition said: ‘The group operates a predominantly distributor-led model in Europe, alongside sales through key retailers. Priorities for FY25 are to deepen penetration within specialty retail, increase grocery and convenience listings and continue to develop the BodyFuel range in the discounter channel.’ Copyright 2025 Alliance News Ltd. All Rights Reserved.
|
