Performance nutrition company Science in Sport’s profits have “strongly improved” following a second wave of prices rises and a recovery in Amazon’s global inventory.
The brand, which has its main manufacturing base in Blackburn, Lancashire, added the reduction of Covid-19 in China has also contributed to a “strong start” to 2023.
In a statement issued to the London Stock Exchange, the company said its management is “optimistic” about its prospects for the year.
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In 2022, Science in Sport said it “performed broadly in-line” with expectations despite a “tough economic and supply chain environment” to post a revenue of £63.5m, a rise of 1.5%.
The business added that there was a “stronger margin performance” in the second half of the year due to its new Blackburn site “delivering significant logistics efficiencies, coupled with the delivery of sustainable cost savings across the business, delivered margins in line with expectations”.
The company also said the new site is planned to be the “bedrock of further improvements and strategic advantage in the global sports nutrition sector from 2023 onwards”.
Science in Sport is headquartered in London and has deals with the likes of Ineos Grenadiers cycling team and Tottenham Hotspur as well as the Milwaukee Bucks.
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