Online drives Science in Sport as Blackburn warehouse nears opening

Science in Sport has today posted a trading update for the financial year 2021, within which it said that online sales have grown to represent 56% of trade, up from 50% in 2020.

With a newly built warehouse accounted for and coming online in Q1 in Blackburn the business is now profit generating following a period of sustained investment.

This investment in the back office helped promote an improved revenue per visit to Science in Sport digital platform, up by 8% from installation in May to year-end.

The group performed ahead of expectations, delivering an underlying EBITDA of £2.2 million (FY 2020: profit of £1.1 million) driven by revenue growth of 25% (FY 2020: nil) to £62.7m (FY 2020: £50.4m).

Stephen Moon, CEO of Science in Sport plc, said: “The Group has performed well and delivered profitable revenue growth. This very encouraging performance reflects the strength of our premium brands which continue to drive strong underlying EBITDA growth.”

“Growth is across all channels and key markets, especially online. Online sales increased by 40% and now account for 56% of total sales, up from 50% a year ago, underpinned by our increased investment in technology. Retail sales grew consistently over the year both in the UK and internationally.”

“Prospects for further progress in 2022 look strong, and our long-term growth strategy remains unchanged.”

Retail sales

While online is the main growth driver, retail sales did not feel the heat from the pandemic’s ups and downs, still registering a 12% increase to £18.1m (FY 2020: £16.1m).

International retail sales at £9.7m were up by 4% (FY 2020: £9.3m). These results were after exiting over 60 sub-scale international accounts in late 2020 to focus on scale markets.

PhD Nutrition contributed a 19% growth to reach £29.7 million, while Science in Sport branded goods generated £33.0m, 30% ahead of the previous year. Product innovation was said to have delivered 32% of revenue growth.

As for overseas trading, the USA has contributed significantly, up 46%, while PhD Japan launched in H1 and began to contribute ahead of expectations.