We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Register to chat with like-minded investors on our interactive forums.
| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Science In Sport Plc | LSE:SIS | London | Ordinary Share | GB00BBPV5329 | ORD 10P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 15.75 | 15.50 | 16.00 | 15.75 | 15.75 | 15.75 | 2,685 | 08:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Health & Allied Services,nec | 63.77M | -10.91M | -0.0640 | -2.46 | 26.83M |
From May 2019 to May 2024
TIDMSIS
RNS Number : 0958Z
Science in Sport PLC
16 September 2020
16 September 2020
SCIENCE IN SPORT PLC
("Company" or "Group")
Interim Results for the Six Months ended 30 June 2020
Science in Sport plc (AIM: SIS), the premium performance nutrition company serving elite athletes, sports enthusiasts and the gym lifestyle community, is pleased to announce its unaudited results for the six months to 30 June 2020 and an update on current trading.
HIGHLIGHTS
-- Group revenue for the period was GBP23.6m, 5% lower than last year both on an actual and constant currency basis (H1 2019: GBP24.9m) reflecting the severe Q2 disruption caused in all markets by the COVID-19 pandemic.
-- Group gross profit GBP11.2m (H1 2019: GBP11.1m) as Supply Chain improvements, together with margin improvement from Digital and Marketplace, resulted in strongly improved gross margin of 47.7% both on an actual and constant currency basis (H1 2019: 44.8%).
-- Underlying operating loss* of GBP0.2m (H1 2019: loss of GBP0.6m) as our continued focus on removing non-strategic cost and prioritising profitable growth have driven improvements in underlying profitability
-- Strong balance sheet position with cash of GBP9.0m (H1 2019: GBP5.0m) following the successful GBP4.5m gross equity raise in April
CURRENT TRADING
-- Continued improvement in trading in July and August, with Group revenue of GBP8.6m for those months, up 1% on the same period last year
-- Digital and Marketplace continued to perform strongly, delivering GBP3.8m of revenue in July and August, 34% ahead of the same period in 2019
-- UK Retail year on year 16% lower for July and August, indicating recovery from H1 31% lockdown-related decline; Export Retail 13% lower, recovering from Q2 34% decline
-- Cash position increased to GBP9.8m at the end of August
*excludes depreciation, amortisation, share-based payments, 2019 PhD acquisition costs and foreign exchange variances on intercompany balances
Stephen Moon, Science in Sport's Chief Executive Officer, commented:
"We acted quickly and decisively in March to restructure given the COVID-19 pandemic, and as a result, we stabilised business operations. We have used the last six months to take advantage of changing consumer preferences and accelerated our digital and marketplace strategy. Improved channel mix and pricing, together with significant supply chain efficiencies underpinned a strong gross margin. Subject to any further severe COVID-19 related impact, we feel we can build on this strong platform."
"We are also looking through COVID-19 and intend to get back onto our proven growth trajectory, underpinned by science-led innovation and strong brand equity. Major projects in supply chain and technology are underway, to help support the next phase of digital and international growth. We remain positive about our long-term profitable growth strategy."
For further information:
Science in Sport plc Stephen Moon, Chief Executive Officer James Simpson, Chief Financial Officer +44 (0) 20 7400 3700 Liberum Nominated adviser and broker Bidhi Bhoma James Greenwood Will Hall +44 (0) 20 3100 2000
Notes to Editors
About Science in Sport plc
Science in Sport plc is a leading sports nutrition business that develops, manufactures and markets innovative nutrition products for professional athletes, sports and fitness enthusiasts and the gym lifestyle community. The Company has two highly regarded brands: PhD Nutrition, a premium protein brand targeting gym lifestyle and sports enthusiasts, and SiS, a leading brand among elite athletes and professional sports teams.
The two brands are sold internationally through multiple retail channels, both traditional and digital, including major supermarkets and high street chains, specialist sports retailers and digital sites including Amazon and the brands' websites. They enable the Company to address the full breadth of the performance nutrition market currently estimated at approximately GBP11 billion worldwide.
PhD is one of the UK's leading protein brands with a reputation for high quality and product innovation. The brand has grown rapidly, based on its core protein powders, since its launch in 2005. The range now comprises powders, bars, flapjacks, drinks and other products including the high protein, low sugar range, PhD Smart. PhD brand ambassadors include endurance athlete Ross Edgley, WBA international champion Jordan Gill, and leading fitness influencer Obi Vincent. The PhD brand is an official partner to the Tough Mudder Challenge and Race Series.
SiS, founded in 1992, has a core range comprising gels, powders and bars focused on energy, hydration and endurance. SiS is the official sports nutrition supplier to many professional teams and organisations including INEOS Grenadiers cycling team, Team Ineos UK (America's Cup Team), British Cycling, Cycling Australia, USA Cycling and USA Triathlon. SiS supplies more than 100 professional football clubs in the UK, Europe and USA, and is an official partner to Manchester United Football Club. SiS brand ambassadors include Olympians Sir Chris Hoy MBE, Mark Cavendish MBE and Adam Peaty MBE.
Science in Sport is headquartered in London. Its shares joined the AIM market of the London Stock Exchange in August 2013 and trade under the ticker symbol SIS.
For further information, please visit www.scienceinsport.com
BUSINESS REVIEW
Overview and Strategy
Group revenue for the period was GBP23.6m, down 5% on last year (H1 2019: GBP24.9m) reflecting the severe Q2 disruption caused by the COVID-19 pandemic in the Group's markets. The SiS brand delivered revenue of GBP11.9m, down 5% (H1 2019: GBP12.5m) while the PhD brand delivered GBP11.7m, down 6% on H1 2019 (H1 2019: GBP12.4m).
Both brands performed well online as our sustained strategic investment in Digital and Supply Chain capabilities ensured we were able to meet the increased online demand during COVID-19 while providing a continued high level of customer service.
Recent brand awareness and attribute surveys for both brands show increasingly strong metrics compared to our entire competitive set. Improved brand health is solidly underpinned by a robust innovation pipeline, including new science-based technologies.
Building on substantial progress on gross margin, we are developing a proposal for a world-class Supply Chain operational unit, expected to come into operation in late 2021. This proposed new unit will house significantly upgraded gel technology and capacity.
While UK Retail and Export Retail environments remain challenging, they remain good profit drivers, and we are making adjustments to strategy to maximise return in the coming three years.
Our strategic footprint remains in place, and we are looking through COVID-19 in readiness to resume our proven growth strategy. Further focus on investment in Digital and Marketplace capability and technology, together with initiatives in World Class Customer Service, will continue to drive our online business.
Digital
Online channels performed very strongly. Our own Digital platform delivered revenues of GBP6.0m across all markets, 27% ahead of H1 2019. Marketplace was 22% ahead, with revenues of GBP4.0m. Online accounted for 42% of total business at the end of H1 2020, up from 32% in H1 2019.
Key metrics including average order value, conversion, traffic and database size grew in line with our plan, as we continued to invest and develop our online proposition while improving trading margins. We were able to reduce the promotional depth and improve the pricing of key lines in the last months.
Momentum across our Digital and Marketplace channels has continued, with GBP3.8m revenue for July and August, which is 34% ahead of the same period in 2019. 44% of all revenue was delivered via online in this period, a substantial increase on 33% in the previous year.
We continue to invest in capability in the Digital business, including new websites for both our PhD and SiS brands to be launched in coming weeks. This will commence a significant period of technology investment in our own Digital platform.
We have recruited dedicated resource to grow our Marketplace business in China and have recently launched a test market in Japan and will expand this business in 2021. Marketplace is becoming an increasingly important growth and profit platform in all global markets.
International
Much of the growth seen in Q1 was negated by the COVID-19 pandemic, which sharply impacted Q2 revenues and carried into Q3, resulting in growth in Export Retail markets of 2% in the period under review. We are now starting to see some recovery with PhD trading picking up in China, and our Shimano partnership extending into Spain for SiS.
USA delivered revenue of GBP1.5m, 30% ahead of last year. Robust growth was shown in Amazon and the SiS.com platform. We expect a significantly reduced EBITDA loss in the USA, given substantial progress from a leaner cost base. In the July and August period, growth of 34% indicated an improving trajectory.
While our Italian business was down 27% in H1 versus the same period last year, July and August have seen 111% growth on H1 2019. SiS Australia grew at 8% versus H1 2019 and 22% in July and August. Both these businesses are now profitable.
We see the potential for future growth in Export Retail markets and we are refining our strategy, together with strengthening the team with a new International Sales Director role to capture these opportunities.
UK Retail
UK Retail has seen the hardest downturn from the COVID-19 lockdown delivering GBP7.7m of revenue which is 31% below last year (H1 2019: GBP11.2m). We are witnessing an increase in demand and are cautiously optimistic, as demonstrated by the July and August year on year decline reducing to 16%.
We continued to develop our High Street business, with Holland & Barrett representing a significant growth opportunity for the Group, as we collaborate on Innovation. Grocery has been challenging, although we have seen a strong rebound of 30% for the PhD brand in July and August, versus last year. Third-party online has also gained momentum during July and August, delivering 38% growth on the corresponding 2019 period. New distribution is starting to be gained in Convenience, primarily through forecourts.
Product Innovation
Revenue from new products was GBP1.4m for the period, 8% ahead of H1 2019. Key product launches of PhD Smart Plant bars and protein powder and PhD high protein low sugar Smart cakes delivered GBP1.0m of the total.
We continue to invest in new product development during the economic downturn, and a robust pipeline will continue to drive revenue for both brands in the second half and into 2021. July saw the lauch of SiS Turbo+, the world's first sports nutrition range designed for indoor training. PhD will launch new protein ranges from Q4 onwards, together with world-first environment-friendly packaging.
The medium-term pipeline for 2021 is robust for both brands and includes novel products for new usage occasions and brand new technologies.
Supply Chain
Our Supply Chain is performing very strongly in all key areas. All PhD protein powder has been in-sourced ahead of plan. The new line installed in November 2019 is comfortably delivering the projected savings, given a doubling in throughput. Significant inroads have been made on key in-sourced product prices, and we expect to see these savings flow through entirely in H2. With PhD now fully integrated, we have whey protein contracts, pricing and hedging under tight control.
Gross margin for H1 improved to 47.7% as a result of these developments (H1 2019: 44.8%). We feel this is a sustainable level given the broad range of positive factors.
Inventory and complexity are a key focus, and we are seeking to reduce our product line count by two-thirds over coming months. A strong start has been made with 1,000 SKUs eliminated. Our year-end inventory target is significantly below 2019 year-end, and we are on track to achieve this.
Plans are in place for Brexit, and we are to build critical raw material inventory, as well as working with major European customers on stock levels of finished products.
People
Safeguarding the health and safety of our people was vital during the COVID-19 outbreak, and we took many measures to protect employees at our production, warehouse and office sites, whilst ensuring we continued to meet customer demand.
Recognising the wellbeing and mental health challenges our people faced during the extended lockdown period we launched a Wellbeing initiative, which has been well received, comprising an employee assistance programme, counselling support, engagement sessions on drivers of wellbeing, and line manager training
We signed up to the Race at Work Charter and publicly committed to reflecting the diversity of our everyday and elite athletes by supporting ambassadors and athletes from BAME communities. We are investing in long-term sports programmes to support Black and minority athletes. Internally we have raised the profile of diversity and are introducing improvements in training and communication, as well as improving key processes such as recruitment.
Financial summary
Group revenue for the period was GBP23.6m, down 5% on last year (H1 2019: GBP24.9m). Online channels performed strongly with Digital revenue of GBP6.0m up 27% ahead of H1 2019 and Marketplace revenue of GBP4.0m up 22%, reflecting the shift to online shopping by consumers.
The SiS brand delivered revenue of GBP11.9m, down 5% (H1 2019: GBP12.5m) while PhD delivered GBP11.7m, down 6% on H1 2019 (H1 2019: GBP12.4m). On a constant currency basis, revenue was down 5%.
Group gross profit was GBP11.2m (H1 2019: GBP11.1m), with Supply Chain synergies in operations and purchasing, together with margin improvement from Digital and Marketplace resulting in gross margin of 47.7% which is 290bps ahead of last year (H1 2019: 44.8%). Constant currency gross margin was 47.7%.
Improvements in underlying operating loss* of GBP0.2m (H1 2019: loss of GBP0.6m) was driven by our continued focus on removing non-strategic cost and prioritising profitable growth.
Total comprehensive loss for the period was GBP2.2m (H1 2019: GBP2.7m).
A strong net cash position of GBP9.8m at the end of August reflects the proceeds of the GBP4.5m gross equity raise and also improved margins and reduced costs. As a precautionary measure, we also secured a flexible GBP8.0m debt facility with HSBC, which remains unused. Inventory as at the end of H1 2020 was GBP7.0m, compared with GBP8.6m at the end of H1 2019, and we expect to lower it further in H2 2020. The financial headroom gives us greater resilience against ongoing disruption and enables us to invest in longer-term growth opportunities.
* excludes depreciation, amortisation, share-based payments, PhD acquisition costs and foreign exchange variances on intercompany balances
Outlook
We are looking through the COVID-19 disruption and intend to get back onto our proven growth trajectory, underpinned by science-led innovation and strong brand equity. Significant projects in Supply Chain and technology are underway, to help support the next phase of Digital and International growth.
Given the COVID-19 situation is likely to remain uncertain for some time, all guidance consequently remains suspended. Nevertheless, we remain optimistic about our long-term, profitable growth strategy.
Stephen Moon
Chief Executive Officer
Consolidated statement of comprehensive income
Six months ended 30 June 2020
Hot Features
Premium
Unaudited Unaudited Audited
six months six months twelve
ended 30 ended months
June 2020 30 June ended
2019 31 December
2019
Notes GBP'000 GBP'000 GBP'000
-------------------------------------------- ------ ------------------- -------------- -------------
Revenue 23,579 24,872 50,573
Cost of goods (12,336) (13,723) (28,366)
-------------------------------------------- ------ ------------------- -------------- -------------
Gross Profit 11,243 11,149 22,207
Total Costs (11,484) (11,720) (22,379)
Underlying operating loss (241) (571) (172)
Depreciation and amortisation (1,561) (1,322) (2,774)
Foreign exchange variances on intercompany
balances 196 (31) (297)
Share-based payment charges 3 (938) (742) (1,165)
Costs associated with acquisition
of PhD - (397) (637)
-------------------------------------------- ------ ------------------- -------------- -------------
Loss from operations (2,544) (3,063) (5,045)
Finance income 4 5 4
Finance costs (23) (23) (23)
Loss before taxation (2,563) (3,081) (5,064)
Taxation 4 286 426 (554)
-------------------------------------------- ------ ------------------- -------------- -------------
Loss for the period (2,277) (2,655) (5,618)
-------------------------------------------- ------ ------------------- -------------- -------------
Other comprehensive income
Cash flow hedges 70 - (181)
Exchange difference on translation
of foreign operations (36) (22) 67
Income tax relating to these items (13) - 33
-------------------------------------------- ------ ------------------- -------------- -------------
Total comprehensive loss for the
period (2,256) (2,677) (5,699)
-------------------------------------------- ------ ------------------- -------------- -------------
(Loss) per share to owners of the
parent
Basic 5 (1.8p) (2.2p) (4.6p)
Diluted 5 (1.7p) (2.1p) (4.4p)
-------------------------------------------- ------ ------------------- -------------- -------------
All amounts relate to continuing operations
Consolidated statement of financial position
30 June 2020
Unaudited Unaudited Audited
six months six months twelve
ended 30 ended 30 months
June 2020 June 2019 ended 31
December
2019
GBP'000 GBP'000 GBP'000
----------------------------------- ------------- ------------ -----------
Assets
Non-current assets
Goodwill 17,398 17,398 17,398
Intangible assets 15,233 16,126 15,668
Plant and equipment 1,629 1,133 1,771
Right of use assets 610 1,449 689
Deferred tax 1,054 1,732 919
Total non-current assets 35,924 37,838 36,445
------------------------------------- ------------- ------------ -----------
Current assets
Inventories 6,975 8,560 6,141
Trade and other receivables 10,164 11,798 10,927
Cash and cash equivalents 8,956 5,034 5,371
Total current assets 26,095 25,392 22,439
------------------------------------- ------------- ------------ -----------
Total assets 62,019 63,230 58,884
------------------------------------- ------------- ------------ -----------
Liabilities
Current liabilities
Trade and other payables (10,349) (11,527) (9,954)
Derivative financial instruments (111) - (181)
Hire purchase agreement (77) - (77)
Lease liabilities (151) (219) (164)
Total current liabilities (10,688) (11,746) (10,376)
------------------------------------- ------------- ------------ -----------
Net current assets 15,407 13,646 12,063
------------------------------------- ------------- ------------ -----------
Non-current liabilities
Lease liabilities (479) (1,266) (530)
Hire purchase agreement (273) - (309)
Deferred Tax (2,333) (2,336) (2,472)
------------------------------------- ------------- ------------ -----------
Total non-current liabilities (3,085) (3,602) (3,311)
------------------------------------- ------------- ------------ -----------
Total Liabilities (13,773) (15,348) (13,687)
Total net assets 48,246 47,882 45,197
------------------------------------- ------------- ------------ -----------
Capital and reserves attributable
to
owners of the parent company
Share capital 6 13,510 12,282 12,282
Share premium reserve 51,832 48,829 48,829
Employee benefit trust (191) (372) (193)
Merger reserve (907) (907) (907)
Cash Flow hedge reserve (91) - (148)
Foreign exchange reserve (66) (119) (30)
Retained earnings (15,841) (11,831) (14,636)
Total Equity 48,246 47,882 45,197
------------------------------------- ------------- ------------ -----------
Consolidated statement of cash flows
Unaudited Unaudited Audited
six months six months twelve
ended 30 ended 30 months
June 2020 June 2019 ended 31
December
2019
GBP'000 GBP'000 GBP'000
------------------------------------------- ------------ ------------ ----------
Cash flows from operating activities
Loss after tax (2,277) (2,655) (5,618)
Adjustments for:
Amortisation 1,156 928 2,129
Amortisation of right-of-use assets 85 118 156
Depreciation 320 276 489
Taxation (286) (426) 554
Share-based payment charges 938 742 1,165
Operating cash (outflow) before changes
in working capital (64) (1,017) (1,125)
------------------------------------------- ------------ ------------ ----------
Changes in inventories (834) (1,458) 961
Changes in trade and other receivables 763 (2,859) (1,988)
Changes in trade and other payables 492 3,598 2,072
Total cash inflow /(outflow) from
operations 357 (1,736) (80)
------------------------------------------- ------------ ------------ ----------
Cash flow from investing activities
Purchase of property, plant and equipment (179) (388) (920)
Purchase of intangible assets (721) (708) (1,453)
Net cash (outflow) from investing
activities (900) (1,096) (2,373)
------------------------------------------- ------------ ------------ ----------
Cash flow from financing activities
Proceeds from issue of share capital 4,544 - -
Expenses paid on share issues (313) - -
Principal paid on lease liabilities (76) (108) (150)
Interest paid on lease liabilities (23) (23) (24)
Finance income (4) (5) (4)
Net cash inflow / (outflow) from
financing activities 4,128 (136) (178)
------------------------------------------- ------------ ------------ ----------
Net increase / (decrease) in cash
and cash equivalents 3,585 (2,968) (2,631)
Opening cash and cash equivalents 5,371 8,002 8,002
Closing cash and cash equivalents 8,956 5,034 5,371
------------------------------------------- ------------ ------------ ----------
Consolidated statement of changes in equity
Share Share Preference Other Foreign Cash Retained Total Equity
Capital Premium Shares Reserve exchange flow earnings/
/EBT reserve hedge (deficit)
reserve
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
----------------- --------- --------- ----------- --------- ---------- --------- ----------- -------------
Balance at 31
December
2018 12,197 48,464 (372) (907) (97) - (9,468) 49,817
----------------- --------- --------- ----------- --------- ---------- --------- ----------- -------------
Comprehensive
Income
Loss for the
period (2,655) (2,655)
Issue of
sponsorship
shares -
consideration 85 365 450
Transactions
with
owners
recorded
directly
in equity
Exercise of
share
options 292 292
Recognition of
share-based
payments charge
FX on translation of
foreign
subs (22) (22)
Balance at 30
June
2019 12,282 48,829 (372) (907) (119) - (11,831) 47,882
----------------- --------- --------- ----------- --------- ---------- --------- ----------- -------------
Comprehensive
Income
Loss for the
period (2,964) (2,964)
Other
comprehensive
incomes (148) (148)
Transaction cost
of placing
Transactions
with
owners
recorded
directly
in equity
Exercise of
share
options 179 (179) - Recognition of share-based 338 338 payments charge FX on translation of foreign subs 89 89 Balance at 31 December 2019 12,282 48,829 (193) (907) (30) (148) (14,636) 45,197 ----------------- --------- --------- ----------- --------- ---------- --------- ----------- ------------- Comprehensive Income Loss for the period (2,277) (2,277) Issue of shares - consideration 1,228 3,003 4,231 Recognition of share-based payments charge 1,074 1,074 Other comprehensive income 57 57 Exercise of options 2 (2) - FX on translation of foreign subs (36) (36) Balance at 30 June 2020 13,510 51,832 (191) (907) (66) (91) (15,841) 48,246 ----------------- --------- --------- ----------- --------- ---------- --------- ----------- -------------
Notes to the interim financial information
For the six months ended 30 June 2020
1.Basis of preparation
This interim report has been prepared using the same accounting policies as those applied in the annual financial statements for the year ended 31 December 2019.
The Directors believe that operating loss before depreciation, amortisation, foreign exchange variances on intercompany balances, share-based payments and exceptional items measure provides additional useful information for shareholders on underlying trends and performance. This measure is used for internal performance analysis.
Underlying operating loss is not defined by IFRS and therefore many not be directly comparable with other companies' adjusted profit measures. It is not intended to be suitable substitute for, or superior to IFRS measurements of profit. A reconciliation of underlying operating profit to statutory operating profit is set out on the face of the statement of comprehensive income.
The condensed financial information herein has been prepared using accounting policies consistent with International Financial Reporting Standards in the European Union (IFRS). While the financial figures included in this interim report have been prepared in accordance with IFRS applicable for interim periods, this interim report does not contain sufficient information to constitute an interim financial report as defined in IAS 34.
The Company has taken advantage of the exemption not to apply IAS 34 'Interim Financial Reporting' since compliance is not required by AIM listed companies.
This interim report does not constitute statutory accounts as defined in section 434 of the Companies Act 2006 and has been neither audited nor reviewed by the Company's auditors BDO LLP, pursuant to guidance issued by the Auditing Practices Board.
The interim report should be read in conjunction with the annual financial statements period ended 31 December 2019.
The statutory Accounts for the last period ended 31 December 2019 were approved by the Board on 17 March 2020 and are filed at Companies House. The report of the auditors on those accounts was unqualified, did not draw attention to any matters by way of emphasis and did not contain a statement under section 498 of the Companies Act 2006.
The unaudited interim report was authorised by the Company's Board of Directors on 15 September 2020.
2. Segmental reporting
Operating segments are identified on the basis of internal reporting and decision making. The Group's Chief Operating Decision Maker ("CODM") is considered to be the Board, with support from the senior management teams, as it is primarily responsible for the allocation of resources to segments and the assessments of performance by segment.
The Group's reportable segments have been split into the two brands, SiS and PhD Nutrition. Operating segments are reported in a manner consistent with the internal reporting provided to the CODM as described above. The reportable segments have changed from 2019 half year and are consistent with 2019 year end (the segments in the prior year being Core, USA, Italy, Australia and Football are now shown as part of the SiS Segment disclosed below).
3. Operating expenses
Unaudited six Unaudited Audited twelve
months ended six months months ended
30 June 2020 ended 30 31 December
June 2019 2019
GBP'000 GBP'000 GBP'000
----------------------------------- -------------- ------------ ---------------
Sales and marketing costs 9,143 9,419 18,015
----------------------------------- -------------- ------------ ---------------
Operating Costs 2,341 2,301 4,364
Depreciation and amortisation 1,561 1,322 2,774
Foreign exchange variances
on intercompany balances (196) 31 297
Share-based payments 938 742 1,165
Costs associated with acquisition
of PhD - 397 637
----------------------------------- -------------- ------------ ---------------
Administrative Costs 5,019 4,973 9,725
Total costs 13,787 14,212 27,252
----------------------------------- -------------- ------------ ---------------
4. Taxation
The corporation tax and deferred tax for the six months ended 30 June 2020 has been calculated with reference to the estimated effective tax rate on the operating results for the full year.
5. Loss per share
Basic and diluted loss per share is calculated by dividing the loss attributable to owners of the parent by the weighted average number of ordinary shares in issue during the period.
Unaudited Unaudited Audited
six months six months twelve months
ended 30 June ended 30 ended 31
2020 June 2019 December
2019
GBP'000 GBP'000 GBP'000
----------------------------------- --------------- ------------------- ---------------
(Loss) for the financial period (2,277) (2,655) (5,618)
Number of shares Number Number Number
'000 '000 '000
Weighted average number of
shares-basic 127,340 122,612 122,716
Weighted average number of
shares-diluted 133,421 128,609 129,086
EPS Summary
Basic loss per share (1.8p) (2.2p) (4.6p)
Diluted loss per share (1.7p) (2.1p) (4.4p)
----------------------------------- --------------- ------------------- ---------------
6. Share Capital
The number of ordinary shares in issue as at 30 June 2020 is 135,100,931 shares (31 December 2019 122,819,029).
On 24th April 2020 12,281,902 ordinary shares were issued as part of a new placing.
The number of shares held by the EBT and referred to as Treasury shares was 1,914,144 (30 June 2019: 3,726,036, 31 December 2019: 1,938,182).
7. Cautionary statement
This document contains certain forward-looking statements with respect to the financial condition, results and operations of business. These statements involve risk and uncertainty as they relate to events and depend on circumstances that will incur in the future. Nothing in this interim report should be construed as a profit forecast.
8. Copies of the interim report
The interim report for the six months ended 30 June 2020 can be downloaded from the Company's website www.scienceinsport.com . Further copies can be obtained by writing to the Company Secretary, Science in Sport plc, 16-18 Hatton Garden, Farringdon, London, EC1N 8AT.
, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
END
IR KELFFBKLBBBZ
(END) Dow Jones Newswires
September 16, 2020 02:00 ET (06:00 GMT)
1 Year Science In Sport Chart |
1 Month Science In Sport Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
