StockMarketWire.com - Science in Sport has widened its FY pretax loss to £1.8m, from £1.1m. Revenue was £8.0m, from £6.5m.

CEO Stephen Moon said:

"We are delighted with the progress that the Company has made during the period, having generated sustainable growth across all sales channels.

"The current year has started well with sales in line with management expectations, and a particularly strong performance in the e-commerce channel. We will continue to drive sales growth during 2015 with significant investment in marketing and sales and in new product development.

"We are seeking to achieve further improvements in gross margin and we expect underlying profitability to continue on a positive trend during 2015, particularly as we begin to benefit from operational leverage. We remain confident of delivering robust growth during this year and beyond."

Highlights:

· Revenues increased by 23.4% to £8.03 million (12 months to 31 December 2013: £6.51 million), reflecting growth across all sales channels;

· Underlying operating loss of £0.19 million in line with management expectations (12 months to December 2013: £0.34 million);

· New product development delivered 29% of the growth in the twelve month period;

· Significant progress with e-commerce platform, including three comprehensive technology upgrades;

· Manufacturing facility in Nelson remains the sole UK factory with Evolved Certification from Informed Sport and delivered an improved gross margin at 59.4% (12 months to 31 December 2013: 55.5%); and

· Cash and cash equivalents of £2.03 million at 31 December 2014 (31 December 2013: £0.82 million).






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