Science in Sport performs 'well' in 2020
Performance nutrition company Science in Sport said on Thursday that it "performed well" in 2020, delivering an adjusted underlying earnings profit of £1.1m.
SIS said its online business grew by 39% to £25.0m in the year, with its fourth-quarter performance up 65% higher year-on-year.
The AIM-listed group also noted that while the Covid-19 pandemic adversely affected its retail business, total revenues of £50.3m were still in line with the previous year.
A step-change in gross margin was also achieved, moving up five percentage points year-on-year to 49%.
Chief executive Stephen Moon said: "Delivering a robust EBITDA profit was a key goal for the year, and this was achieved through a focus on developing our fundamental building blocks of long-term profitable growth.
"Whilst it is too early to reinstate market guidance, given the current Covid-19 lockdown, we are well funded and remain very optimistic about the long term growth prospects for the group."
As of 1130 GMT, Science in Sport shares were up 1.28% 39.50p.