StockMarketWire.com - Science in Sport, a sports nutrition company, said H1's strong sales growth had continued into H2. Sales for the year to March 31 were expected to be up 24%, year on year, at about £6.84m.

It also said it has raised £2.3m by the issue and allotment of 5.1m shares at 45p each. The placing has been undertaken with new and existing institutional shareholders and was oversubscribed.

Returning to the trading update, Sports in Science said the rate of revenue growth was ahead of market expectations.

"Revenue growth during the year has been achieved across all of the Company's distribution channels including major grocers, high street retail chains, independent retailers and e-commerce retailers," it said in a trading update.

Science in Sport's own direct e-commerce sales had enjoyed very strong year-on-year growth and the current year would see increased resource invested in this channel.

"To support e-commerce sales, the Company recently relaunched the SiS website and the launch of a website for mobile devices is imminent."

International growth is an important part of the Company's strategy and the Board reported an encouraging start with two overseas initiatives announced during the second half of the financial year.

"The outcome for the full year will include the exceptional costs associated with the Company joining AIM in August 2013. However the Directors believe the outlook for the Company is extremely positive."




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