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Science In Sport Confident For Full-Year On Higher First-Half Sales(Alliance News Via Acquire Media NewsEdge) LONDON (Alliance News) - Science in Sport PLC said Tuesday that first-half sales rose 23%, buoyed by growth across its whole product range and sales channels, and that it remains confident for the full-year and beyond. The AIM-listed firm said international and e-commerce sales - both direct and through third-party e-tailers - have been particularly strong. "Underlying strong sales growth in major grocers has benefited further from an expanded distribution agreement with Sainsbury's," said Chairman John Clarke. In a statement released ahead of the sport nutrition company's annual general meeting Tuesday, the company said sales in the six months to September 30 rose 23% on the comparable period at approximately GBP4.9 million. "This growth reflects strong sales across our whole product range and across all our sales channels," said the company. Encouraged by its first-half progress, the company remains confident in its outlook for continued revenue growth in the full year and beyond. "We have successfully delivered on our strategy of driving the sales growth of the... brand through consistent investment in marketing and selling, supporting this with a strong new product development pipeline and underpinning commercial progress with improving margins from our own low-cost manufacturing facility," said Clarke. Looking ahead, Clarke said Science in Sport intends to continue to deliver on its strategy and that the "resilience of the sports nutrition category create significant opportunities." Science in Sport expects to issue its half-year results in early December 2014. Shares in the company were Tuesday trading 5/06% higher at 76.96 pence per share. Copyright 2014 Alliance News Limited. All Rights Reserved. |