LONDON (ShareCast) - Nutrition group Science in Sport said performances in the first three months of 2015 were line with expectations, despite posting a widened annual pre-tax loss.
The group, which has moved its year end from 31 March to 31 December, said that in the nine months to the end of December pre-tax losses grew 20% to £1.7m, as revenue fell 7.35% and it posted a £1.2m payment charge.

When comparing twelve months period on a pro-forma basis, the company said its pre-tax loss widened 63.6% to £1.8m, as an increase in the cost of goods and the £1.2m payment charge offset 23.1% rise in revenue.

The group, which has launched a trading agreement with Amazon, said it had focused on improving its online sales platform in 2014 and will continue to invest in marketing, sales and new product launches in 2015.

"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," said group chief executive Stephen Moon.

Moon added that the company remained confident of delivering robust growth in 2015 and beyond.

Science in Sport shares were down 0.12% to 68.17p at 11:46 on Thursday.

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