 saw their share price rise on Thursday, after sales increased by nearly 30 percent.){kind=link}
Sports nutrition company Science in Sport (LON:SIS) saw their share price rise on Thursday, after sales increased by nearly 30 percent.
The company said it had made “significant progress” in execution of its growth strategy, seeing a 28 percent increase in sales to hit £8.27 million. The group’s e-commerce platform delivered growth of 78 percent over the six month period to June 30th, increasing its database of customers on the platform by 38 percent.
Costs remain tightly controlled and its expansion into international markets has continued to hit targets, with its US and Italian businesses trading in line with expectations after increased investment.
Stephen Moon, Science in Sport’s CEO said: “We have had a strong start to the year in a difficult market, and have made very good progress, particularly when many of our competitors continue to face growth challenges.
“We have invested heavily in international markets and increased our investment to capitalise on opportunities we are seeing. We continue to invest in all aspects of our e-commerce business and that is reflected in the high growth delivered. We have good momentum and together with our healthy innovation pipeline, we expect to have a strong second half.”
Science in Sport is a sports nutrition company developing, manufacturing and marketing sports nutrition products for professional athletes and sports enthusiasts. Shares in the company are currently up 3.62 percent at 91.50 (1429GMT).