Sports nutrition giant Science in Sport has posted revenues of £15.6 million in 2017, beating its prior year tally by some 28%.
Having succeeded in funding its expansion into the United States, as well as gained high profile backing from the likes of Mark Cavendish, 2017 proved to be a particularly fruitful year for the business which operates in numerous sporting categories.
Direct sales lead the firm’s charge, tallying a 58% year-on-year increase to reach £4.6 million. Third-party online suppliers racked up a further £3.9 million, while retail sales, including those via distributors accelerated by 13.8% to £7.1 million. The firm serves around 800 bicycle retailers in the UK, though this revenue dipped by 8% in 2016, despite a 30% rise in distribution.
Led by CEO Stephen Moon, the firm’s strategy to give away 800,000 gels a year has paid dividends in web-based basket conversion and that strategy is to be replicated where international ground has been gained. International revenue accounted for 60% or £4.4 million in 2017.
2016 revenues doubled on the prior year’s figures, while Q1 of 2017 was 100%+ up on the prior year, Moon told CI.N in April.
Science in Sport manufactures its products in Lancashire in the UK and has formerly told CI.N that its capacity “could well be large enough to produce for the rest of the industry’s nutrition brands”, standing it in good stead to manufacture vast quantities and remain competitive on price.