As cycling’s Team Sky dominates in the Tour de France, the nutrition firm fuelling them today revealed it was powering ahead of its rivals.
Science in Sport, which supplies a wide selection of sports teams including Liverpool Football Club and British Rowing, grew online sales by 78 per cent in the first six months of 2017.
Chief executive Stephen Moon said SiS was operating in a “difficult market”. But he hailed the first half figures, “particularly when many of our competitors continue to face growth challenges”.
Sports nutrition firms have been popular takeover targets for larger companies in 2017. High5 was snapped up by Primark owner, Associated British Foods, for £60m in March. Meanwhile, Grenade was bought earlier in the month by Lion Capital for £72m.
Today he added:
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.
Total sales for the first half of 2017 rose by 28 per cent to £8.3m as SiS ventured further into US, Italian and Australian markets.