LONDON (BRAIN) — Nutrition company Science in Sport reported a 24% increase in group revenue for 2019.
Science in Sport's revenue was $58 million (50.6 million euro) for the 12 months ending Dec. 31. That contributed to a six-year 25% revenue compound annual growth rate.
The growth also reflected the first full year contribution of PhD Nutrition, which Science in Sport acquired in December 2018. PhD Nutrition recorded revenue growth of 23% for 2019.
Last year "was a transformational year for Science in Sport as we integrated the PhD business as planned and continued our strategic growth focus on e‐commerce and international, positioning the group for the next stage of its growth," said Stephen Moon, CEO.
SIS also launched PhD.com and a new e-commerce fulfillment operation during the second half of 2019. Online revenue grew by 36% for the year.
Moon said disruptions from the COVID-19 pandemic have occurred over the past several weeks and the company has been preparing by "buying sensitive raw materials, securing supply chain operation, and remote working for commercial and operations staff. Costs are being managed very tightly and contingency plans are in place. We are well prepared to protect the company and its workforce should the impact from COVID-19 become extended."
Science in Sport's corporate headquarters is in London. Its stock is traded on the London Stock Exchange under the SIS symbol. Stock quote at Marketwatch.com.
