Science in Sport group revenues leap 150% following PhD acquisition, new CFO joins

First half results from Science in Sport showed a 150% increase in revenue performance, much of which is attributed to the November 2018 buyout of rival PhD Nutrition.

The release of the group’s interim results included a 16% like-for-like growth in PhD revenue, rising to £12.4 million, a record growth for the label.

Science in Sport saw a 26% increase in revenue, up to £12.47 million and representing a 20% growth on 2018’s data.

In international markets the group saw a 56% total revenue spike, meaning that exports now account for 33% of total revenue across both brands.

All of the above led to a substantial increase in Group gross profit to £11.15 million (H1 2018: £5.86 million) including £4.13 million from PhD.

It is a focus on e-Commerce sales, up 52% at SIS.com that accounts for a healthy portion of business, while PhD.com successfully relaunched its online portal in April of this year.

Starting next week, the group will have a new CFO in James Simpson, who brings a deep e-Commerce background to the role.

Science in Sport CEO Stephen Moon said: “The integration of the PhD and SiS brands remains firmly on track and we are particularly excited by the potential of the PhD.com e-commerce business. Important milestones achieved in the first half include relaunching the PhD.com website, opening an e-commerce fulfilment facility and exploiting international distribution synergies, as well as the integration of teams across both brands.

“Introduction of the new protein powder line at our Nelson site remains on track to enable in-house PhD powder manufacture with a go-live date of November 2019.

“We remain confident of delivering on full year expectations, and of the future growth of both our brands. Investment in performance innovation, brand awareness, e-commerce, International and effective manufacturing will underpin expected growth in 2020 and beyond.”