LONDON (ShareCast) - (ShareCast News) - Shares in Science in Sport (SiS) are up almost 3% as investors overlooked a deeper full-year pre-tax loss to a 30% rise in revenue and confirmation of a strong start to 2017 sales.
The sports nutrition company's revenue came in at £12.2m, which was 30% up on the prior year's £9.4m thanks to particularly strong growth in Online channels and International markets.

Chief executive Stephen Moon described the year as one of of exceptional revenue growth for SiS, the company continuing to outperform peers and grab market share in the highly attractive endurance sports nutrition sector.

"In line with our growth strategy, we continued to invest heavily in brand equity, marketing, product innovation, e-commerce and International markets, with the benefits evident in both our 30% increase in revenues and growing brand awareness in all markets," he said.

Moon said SiS's Online and International growth was particularly strong during 2016.

"Our new Australian business delivered sales ahead of plan and in the second half we launched e-commerce websites in the USA, Italy, Germany and Netherlands. Our scienceinsport.com business doubled in size in the year."

Looking ahead, the chief executive added that SiS' model was working.

"We expect our core UK and EU business to be EBITDA profitable in 2017 and we will deploy cash to support growth in International markets."

Pre-tax loss for the period was £2.8m, from a loss of £1.7m. Depreciation and amortisation rose to £419,000, from £362,000, with share-based payments at £1.6m, from £995,000.

At 11:15 GMT, shares in AIM-traded Science in Sport were up 2.44% to 84p each.

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