Olympic swimmer Adam Peaty teams up with Science in Sport
Olympic swimmer Adam Peaty has been unveiled as a brand ambassador for sports nutrition brand Science in Sport.
The Lancashire-based group forged the partnership ahead of Peaty’s double silver medal tally at the Commonwealth Games in Australia this month.
The deal will last until the 2020 Tokyo Olympics.
It comes as the AIM-listed company reveals 2017 revenue increased by 28 per cent to £15.6m, ahead of market growth forecasts, with growth particularly strong in online channels and international markets.
However, its pre-tax loss widened to £3.9m, from £2.6m the year before, which the company attributed to increased sales and marketing costs.
Chief executive Stephen Moon said: “This was another period of very strong growth, the fifth consecutive year where SiS has significantly outstripped this sector.
“We saw outperformance in all online channels and international markets. Our strategy of consistent investment in brand equity, our e-commerce platform and product innovation underpinned this success. Continuing improvements in factory and supply chain efficiencies underpinned a very robust gross margin.
“Our core business in the UK and EU was profitable at EBITDA level and we commenced our investment in the strategic markets of the USA and Italy.
“We are looking forward to another year of strong revenue growth in 2018. We expect gross margin to be consistent, given further factory efficiencies and favourable raw material prices.
“Our innovation pipeline for 2018 and beyond is very healthy and will continue to be a key driver of progress. We are investing substantially to develop our businesses in the USA and Italy and in addition we have launched our new football business, underpinned by our recently announced exclusive nutrition partnership with Manchester United.”