REG - Science in Sport PLC - Interim Results
28/09/2023 07:00
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RNS Number : 9063N Science in Sport PLC 28 September 2023
28 September 2023
AIM: SIS
SCIENCE IN SPORT PLC
("Group" or "Company")
Interim results for the six months ended 30 June 2023
Focus on margin enhancement underpins strong EBITDA improvement
Science in Sport plc (AIM: SIS), the premium performance nutrition company
serving elite athletes, sports enthusiasts, and the active lifestyle
community, announces interim results for the six months to 30 June 2023.
Summary H1 results
Key highlights
· Revenue grew by 7% to £34.4m in the period. Record trading month
in March, with April, May, and June all setting records for the respective
months, with Q2 delivering 11% growth versus Q2 2022.
· Gross margin was 42% (2022: 42.8%), with further progress
expected in H2, given whey prices softening and our new in-house bar line
delivering a margin enhancement.
· Trading contribution was £6.9m (20% of net revenue), a sharp
increase on the £3.6m (11.1% of net revenue) in 2022, given marketing
efficiencies, and the new Blackburn site contributing with £1.4m savings
versus H1 2022.
· Overheads were reduced by £0.3m year-on-year, with the most
significant contributor being people costs.
· These efficiencies throughout our operations resulted in an
adjusted H1 EBITDA(1) of £1.1m (H1 2022: loss of £2.8m).
· Loss before tax for H1 of £3.3m (H1 2022: loss of £7.2m before
tax), with the improvement driven by the positive underlying trading
performance and cost efficiencies.
· Cash generated in the period of £0.3m, compared to an outflow of
£3.5m in H1 2022. Headroom of £3.8m in facilities.
Stephen Moon, Chief Executive Officer of Science in Sport plc, said:
"We are seeing the results from our year-long contribution margin enhancement
activity reflected in a £3.9 million positive movement in EBITDA. Our
investment in the Blackburn site and technology are critical enablers in this.
Overall growth of 7% is encouraging, but there is no doubt that consumer
confidence is fragile and trading is volatile.
Whilst we expect H2 to broadly reflect H1, the full-year outcome is always
heavily influenced by Q4. Provided there is no material deterioration in
consumer confidence, the improved and ongoing margin improvements give upside
potential with a strong finish to the year.
We remain committed to our long-term strategy with our premium brand equities
in good health and efficiencies from our strategic capital investment
delivering on track."
INTERIM REPORT
Overview
Our strategy remains unchanged, with the medium-term goal of £100m of
profitable revenue, driven by our scientifically proven premium brands and
operational gearing enhancing the bottom line. Our world-class supply chain
delivers high gross margin products with best-in-class quality and banned
substance controls.
Our premium brands remain in good health. Science in Sport leads the endurance
nutrition category in brand awareness, consideration, and all brand image
measures. PhD ranks behind the established mass-market brands of MyProtein and
Grenade in awareness and consideration but is strong compared to similar-sized
peer brands.
Our science and innovation teams remain very active. We will deliver a
relaunch of our Rego recovery range in Q1 2024. Our PhD bar range will
relaunch in Q4 2023 with an improved higher protein, lower fat, and sugar
format, enabling access to more channels and markets.
Operational improvements
Management commenced an organisation-wide margin enhancement programme in H1
2022, continuing throughout H2 2022 and 2023.
We restructured our Digital operations and USA business. Given rising
acquisition costs and aggressive price competition, we reduced digital
marketing costs and delivered £4.1m revenue (H1 2022: £7.5m), with a
strongly improved trading contribution expected for the full year. Costs in
the channel will reduce by a further £1.2m annualised from Q4 2023. The
Digital channel will focus on high-lifetime-value customers, who contribute
65% of revenue. Our change to a distributor model in the USA reduced revenue
by 15% to £1.9m, although trading contribution was positive at £0.4m (H1
2022: loss £0.1m.)
The Blackburn site is delivering efficiencies in line with our plan.
Particularly notable is the reduction in carriage costs by £1.4m in H1 versus
last year. We commissioned a new bar line in Q1 2023, delivering a unit cost
per bar of approximately 30% less than the previous bought-in product range.
The full benefit will flow into the gross margin in H2 as the co-manufactured
product exits inventory. Further efficiencies are expected from the site.
Commercial review
The Science in Sport brand delivered £18.6m revenue in H1, 20% ahead of H1
2022. The high-margin gel format delivered 38% growth, accounting for 29% of
total Group revenue. SiS gels are the market leader in each UK channel.
The PhD brand delivered £15.8m H1 revenue, a 5% decline compared to 2022,
given a slow start to the year. PhD is the second largest protein powder and
bar manufacturer in UK grocery and is Amazon UK's fastest-growing protein
brand.
Retail
We saw growth of 21%, given the improved rate of sale, new distribution, and
price increases. The channel is performing consistently during H2, and we are
extending distribution further.
At the period end, the Group had a 15.7% share in UK Grocery, second behind
Grenade. Science in Sport is the leader in endurance nutrition, growing 23% in
the last 52 weeks and 28% in the 12 weeks to the end of June. PhD is the
number two protein powder manufacturer, with a 25.5% share. PhD is the
market leader in both lean whey and plant protein. PhD is the second largest
Sports Nutrition bar manufacturer, with a 6.4% share.
30% growth to £7.2m in H1 came from international retail. Shimano Europe
delivered a solid performance, and we made good gains through our distributor
serving Indonesia, Malaysia, and Japan.
Amazon
Sales started slowly due to a global destocking programme by the customer.
Amazon UK and Europe grew 17% to £7.5m in H1. Overall growth, including the
discontinued Amazon USA business, which transferred to The Feed, was 10%.
Sales out from Amazon UK and Europe to end customers were up 35% year compared
to our top five competitors growing at 22%. With a share of 11.3%, the Group
is the second largest sport nutrition manufacturer on Amazon UK.
China
China has been and continues to be challenging. Dampened demand, given
COVID-19 in January and February and a weaker economy later in the period,
resulted in revenue of £2.7m, down on the £3.1m delivered in H1 2022.
Visibility on orders from our current distributor remains below expectations
and our focus for Q4 will be restoring the strong growth we saw in 2022,
starting with our sponsorship of Shanghai Marathon in November.
Retail share data Nielsen IQ Grocery Multiples L12wks w/e 01.07.23
Amazon data from Amazon EPOS and Edge
Capital Investment and Working Capital
Capital investment for H1 was £1.5m (H1 2022: £7.0m), the reduction in
spending due to the strategic investment in the Blackburn facility now being
complete. H2 2023 capital expenditure will be lower than H1.
Headroom of £3.8m in facilities on 30 June 2023 in-line with the position on
31 December 2022 of £4m. Cash generated in the period of £0.3m, compared to
an outflow of £3.5m in H1 2022.
Cash at bank of £1.2m (H1 2022: £1.3m; 2022: £0.9m). HSBC have renewed and
increased credit facilities by £1.5m, giving a total of £12.6m of working
capital facilities. The increase in facilities due to the higher mix of
revenue through wholesale channels compared to our direct-to-consumer channel.
This trend is expected to continue in the future.
Pre IFRS 16 net debt(2) (note 6) of £13.2m (2022: £10.9m) due to weighting
of capital spend in H1 2023 and higher inventory levels of £9.5m as at 30
June 2023 (2022: £6.6m). Net debt is forecast to reduce throughout H2 2023
due to positive operating cash flow and a decrease in inventory. Overall net
debt at the year-end is anticipated to be at similar levels to 31 December
2022.
Outlook
Key focus areas for management are delivering EBITDA improvements and managing
cash tightly. Further cost efficiencies are expected in H2 2023 as part of the
organisation-wide margin improvement programme, which commenced during Q2
2022. This will feed into operational gearing gains as we grow revenue.
We expect H2 to mirror H1 at a revenue level. Q4 always heavily influences
the full year, given Black November and all retail and online platforms
finishing December strongly, ahead of the traditional January health awareness
campaigns. Provided there is no material deterioration in consumer confidence
the improved and ongoing margin improvements may bring upside potential with a
strong finish to the year.
Our strategy remains unchanged. We continue to target profitable growth to
take us to £100m in revenue and beyond.
Stephen Moon
Chief Executive Officer
Ends
Science in Sport plc T: 020 7400 3700
Stephen Moon, CEO
Dan Lampard, CFO
Liberum (Nominated adviser and broker) T: 020 3100 2000
Richard Lindley
About Science in Sport plc
www.sisplc.com (http://www.sisplc.com)
Headquartered in London, 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
active lifestyle community. The Company has two highly regarded brands, PhD
Nutrition, a premium active-nutrition brand targeting the active lifestyle
community, and SiS, a leading endurance nutrition brand among elite athletes
and professional sports teams.
The two brands sell through the Company's phd.com and scienceinsport.com
digital platforms, third-party online sites, including Amazon and Tmall, and
extensive retail distribution in the UK and internationally, including major
supermarkets, high street chains and specialist sports retailers. This
omnichannel footprint enables the Company to address the full breadth of the
sports nutrition market, sports nutrition market, worth $24.6bn in 2022 and
forecast to grow CAGR 5.9% from 2022 to 2027.(3)
( )
SiS, a leading endurance nutrition business founded in 1992, has a core range
comprising gels, powders and bars
focused on energy, hydration, and recovery. SiS is an official endurance
nutrition supplier to over 320 professional teams, organisations, and national
teams worldwide.
SiS is Performance Solutions partner to Ineos Grenadiers cycling team,
Tottenham Hotspur and CGC Nice football, as well as Official Nutrition Partner
to the Milwaukee Bucks, 2021 National Basketball Association Champions.
PhD is one of the UK's leading active nutrition brands with a reputation for
high quality and product innovation. The brand has grown rapidly since its
launch in 2005. The range now comprises powders, bars, and supplements,
including the high protein, low sugar range, PhD Smart. PhD brand ambassadors
include leading endurance and strength athlete Ross Edgley and influencer
Gabby Allen.
For further information, please visit phd.com and scienceinsport.com
(1) EBITDA excludes interest, tax, depreciation, amortisation, share-based
payments, foreign exchange variances on intercompany balances and non-cash
& non-recurring items set out in note 3 to the financial statements.
(2) Net debt is defined as cash, less banking working capital facilities and
asset financing and excludes property leases
(3 )Euromonitor Passport Database Global Assessment (October 2022)
Consolidated statement of comprehensive income
Six months ended 30 June 2023
Unaudited six months ended 30 June 2023 Unaudited six months ended 30 June 2022 Audited twelve months ended 31 December 2022
Notes £'000 £'000 £'000
Revenue 34,436 32,279 63,773
Cost of goods (19,957) (18,473) (36,837)
Gross Profit 14,479 13,806 26,936
Total Costs (16,999) (20,667) (36,757)
Loss from operations (2,520) (6,861) (9,821)
Comprising:
Underlying EBITDA 3 1,132 (2,800) (2,689)
Depreciation and amortisation (2,743) (2,571) (4,808)
Foreign exchange variances on intercompany balances (344) 60 (99)
Share-based payment charges (181) (660) (262)
Blackburn transition costs - (618) (1,075)
(228)
Restructuring costs
(272) (888)
(156)
Cost of Strategic review - -
Loss from operations (2,520) (6,861) (9,821)
Finance income - - -
Finance costs (747) (339) (757)
Loss before taxation (3,267) (7,200) (10,578)
Taxation benefit/(charge) 4 - 92 (332)
Loss for the period (3,267) (7,108) (10,910)
Other comprehensive income
Cash flow hedges - (40) 2
Exchange difference on translation of foreign operations - 82 (21)
Total comprehensive loss for the period (3,267) (7,066) (10,929)
(Loss) per share to owners of the parent
Basic and diluted 7 (1.9p) (5.2p) (7.6p)
All amounts relate to continuing operations
Consolidated statement of financial position
30 June 2023
Unaudited six months ended 30 June 2023 Unaudited six months ended 30 June 2022 Audited twelve months ended 31 December 2022
Notes £'000 £'000 £'000
Intangible assets 29,704 30,939 30,739
Right of use assets 10,160 10,642 10,536
Plant and equipment 10,431 8,395 10,338
Total non-current assets 50,295 49.976 51,613
Inventories 9,538 8,726 6,638
Trade and other receivables 19,727 14,706 16,524
Cash and cash equivalents 1,228 1,310 930
Total current assets 30,493 24,742 24,092
Total assets 80,788 74,718 75,705
Trade and other payables (27,962) (20,619) (19,993)
Lease liabilities (415) (784) (415)
Asset financing (843) (845) (843)
Hire purchase agreement (80) (98) (80)
Derivative financial instruments - (42) -
Provision for liabilities (976) - (901)
Total current liabilities (30,276) (22,388) (22,232)
Lease liabilities (9,990) (10,393) (10,261)
Asset financing (3,275) (2,545) (2,839)
Hire purchase agreement (43) (129) (82)
Total non-current liabilities (13,308) (13,067) (13,182)
Total Liabilities (43,584) (35,455) (35,414)
Total net assets 37,204 39,263 40,291
Share capital 8 17,242 13,510 17,242
Share premium reserve 53,134 51,839 53,134
Employee benefit trust (204) (256) (429)
Other reserve (907) (907) (907)
Foreign exchange reserve (138) (35) (138)
Cash Flow hedge reserve - (42) -
Retained deficit (31,923) (24,846) (28,611)
Total Equity 37,204 39,263 40,291
Consolidated statement of cash flows
Six months ended 30 June 2023
Unaudited six months ended 30 June 2023 Unaudited six months ended 30 June 2022 Audited twelve months ended 31 December 2022
£'000 £'000 £'000
Cash flows from operating activities
Loss after tax (3,267) (7,108) (10,910)
Adjustments for:
Amortisation 1,565 1,693 2,919
Amortisation of right-of-use assets 350 437 963
Depreciation 816 442 926
Interest Expense 747 339 757
Taxation benefit - (92) 332
Share-based payment charges 181 660 262
Operating cash inflow / (outflow) before changes in working capital 392 (3,629) (4,751)
Changes in inventories (2,900) (280) 1,809
Changes in trade and other receivables (3,204) (2,027) (3,737)
Changes in trade and other payables 6,577 2,734 2,207
Total cash inflow / (outflow) from operations 865 (3,202) (4,472)
Cash flow from investing activities
Purchase of property, plant and equipment (820) (3,577) (6,013)
Purchase of intangible assets (532) (1,013) (1,941)
Net cash outflow from investing activities (1,352) (4,590) (7,954)
Cash flow from financing activities
Net proceeds from asset financing 900 1,890 2,184
Net proceeds from invoice financing 1,363 2,540 3,080
Repayments of asset financing (679) - -
Interest paid on invoice financing (284) - (172)
Gross proceeds from issue of share capital - - 5,000
Interest paid on asset financing (134) (7) (143)
Principal paid on lease liabilities (170) (134) (629)
Interest paid on lease liabilities (212) (37) (442)
Share issue costs - - (372)
Net cash (outflow)/inflow from financing activities 784 4,252 8,506
Net increase / (decrease) in cash and cash equivalents 298 (3,540) (3,920)
Opening cash and cash equivalents 930 4,850 4,850
Closing cash and cash equivalents 1,228 1,310 930
Consolidated statement of changes in equity
Share Capital Share Premium Employee Benefit trust Reserve Other Reserve Foreign Exchange Reserve Cash Flow Hedge Reserve Retained Deficit Total Equity
£'000 £'000 £'000 £'000 £'000 £'000 £'000 £'000
Balance at 31 December 2021 13,510 51,839 (158) (907) (117) (2) (17,836) 46,329
Comprehensive Income
Total comprehensive loss for the period - - - - 82 (40) (7,108) (7,066)
Transactions with owners
Exercise of share options - - (98) - - - 98 -
Balance at 30 June 2022 13,510 51,839 (256) (907) (35) (42) (24,846) 39,263
Comprehensive Income
Total comprehensive loss for the period - - - - (103) 42 (3,801) (3,862)
Transactions with owners
Issue of shares 3,732 1,295 (399) - - - - 4,628
Issue of shares held by EBT to employees - - 226 - - - (226) -
Share-based payments charge - - - - - - 262 262
Balance at 31 December 2022 17,242 53,134 (429) (907) (138) - (28,611) 40,291
Comprehensive Income
Total comprehensive loss for the period - - - - - - (3,267) (3,267)
Transactions with owners
Issue of shares to EBT - - - - - - - -
Share Based payments charge - - - - - - 181 181
Exercise of share options - - 225 - - - (225) -
Balance at 30 June 2023 17,242 53,134 (204) (907) (138) - (31,922) 37,204
Notes to the interim financial information
For the six months ended 30 June 2023
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 2022.
The Directors believe that operating profit / (loss) before depreciation,
amortisation, share based payments and foreign exchange variances on
intercompany balances and exceptional items of Strategic review costs and
restructuring items measure provides additional useful information for
shareholders on underlying trends and performance. This measure is used for
internal performance analysis.
Strategic review costs relate to one-off costs from the review that commenced
in December 2022 and concluded in April 2023. Restructuring costs includes
one-off people-related expenses from reduced headcount when implementing the
new leaner organisation structure.
Underlying operating profit / (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
conformity with the requirements of the Companies Act 2006 ("adopted IFRS")
and as applied in accordance with the provisions of the Companies Act 2006.
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, 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 2022.
The statutory Accounts for the last period ended 31 December 2022 were
approved by the Board on 30 June 2023 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 26 September 2023.
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 are consistent with 2022 year-end financial statements with relevant
costs across the brands allocated on a more appropriate basis.
Unaudited six months ended
30 June 2023
SiS PhD Total
£'000 £'000 £'000
Sales 18,618 15,818 34,436
Gross profit 8,942 5,537 14,479
Marketing costs (3,310) (1,413) (4,723)
Carriage (1,613) (1,013) (2,626)
Online selling costs (138) (118) (256)
Trading contribution 3,881 2,993 6,874
Other operating expenses (9,394)
Loss from Operations (2,520)
Unaudited six months ended
30 June 2022
SiS PhD Total
£'000 £'000 £'000
Sales 15,543 16,736 32,279
Gross profit 8,725 5,081 13,806
Marketing costs (3,966) (1,585) (5,551)
Carriage (2,807) (1,198) (4,005)
Online selling costs (322) (345) (667)
Trading contribution 2,505 1,078 3,583
Other operating expenses (10,444)
Loss from Operations (6,861)
Year ended
31 December 2022
SiS PhD Total
£'000 £'000 £'000
Sales 29,708 34,065 63,773
Gross profit 17,383 9,553 26,936
Marketing costs (6,602) (2,387) (8,989)
Carriage (4,839) (2,273) (7,112)
Online selling costs (703) (807) (1,510)
Trading contribution 5,021 4,304 9,325
Other operating expenses (19,146)
Loss from Operations (9,821)
3. Operating expenses
Unaudited six months ended 30 June 2023 Unaudited six months ended 30 June 2022 Audited twelve months ended 31 December 2022
£'000 £'000 £'000
Sales and marketing costs 7,605 10,223 17,611
Operating Costs 6,571 7,273 13,977
Depreciation and amortisation 2,298 2,571 4,808
Foreign exchange variances on intercompany balances 344 (60) 99
Share-based payments 181 660 262
Administrative Costs 9,394 10,444 19,146
Total operating expenses 16,999 20,667 36,757
The operating expenses above includes costs that were incurred in relation to
transition to our consolidated supply chain facility in Blackburn, strategic
review and restructuring costs.
These costs are not deemed to be recurring costs, as such they are not deemed
to be part of the usual operating expenditure:
£'000
Total
Strategic review costs 156
Restructuring costs 228
384
Management uses alternative performance measures as part of their internal
financial performance monitoring, including Underlying EBITDA. The measure
provides additional information for users on the underlying performance of the
business, enabling consistent year-on-year comparison.
4. Taxation
The corporation tax and deferred tax for the six months ended 30 June 2023 has
been calculated with reference to the estimated effective tax rate on the
operating results for the full year and taking into account movements in
deferred tax assets and liabilities.
5. Revenue from contracts with customers
The Group operates four primary sales channels, which form the basis the basis
on which management monitor revenue. UK Retail includes domestic grocers and
high street retailers, Digital are sales through the phd.com and
scienceinsport.com platforms, International Retail relates to retailers and
distributors outside of the UK and Marketplace relates to online marketplaces
such as Amazon and Tmall.
Unaudited six months ended 30 June 2022 Audited twelve months ended 31 December 2022
Unaudited six months ended 30 June 2023
SiS PhD Total SiS PhD Total SiS PhD Total
£'000 £'000 £'000 £'000 £'000 £'000 £'000 £'000 £'000
Digital 2,866 1,245 4,111 5,288 2,249 7,537 8,859 3,618 12,477
Marketplace 3,268 4,291 7,559 2,597 4,273 6,870 6,199 7,851 14,050
China 882 1,806 2,688 89 3,018 3,107 178 7,031 7,209
USA 1,745 - 1,745 - - - - - -
Global Online 8,761 7,342 16,103 7,974 9,540 17,514 15,236 18,500 33,736
International Retail 4,919 2,278 7,197 3,564 1,969 5,533 6,491 3,904 10,395
UK Retail 4,938 6,198 11,136 4,006 5,226 9,232 7,981 11,661 19,642
Retail 9,857 8,476 18,333 7,570 7,195 14,765 14,472 15,565 30,037
Total sales 18,618 15,818 34,436 15,544 16,735 32,279 29,708 34,065 63,773
Turnover by geographic destination of sales may be analysed as follows:
Unaudited six months ended 30 June 2023 Unaudited six months ended 30 June 2022 Audited twelve months ended 31 December 2022
£'000 £'000 £'000
United Kingdom 19,982 18,250 36,574
Rest of Europe 7,502 6,627 11,391
USA 1,913 2,254 4,670
Rest of the World 5,039 5,148 11,138
Total sales 34,436 32,279 63,773
6. Net debt reconciliation
Unaudited six months ended 30 June 2023 Unaudited six months ended 30 June 2022 Audited twelve months ended 31 December 2022
£'000 £'000 £'000
Invoice financing 5,960 4,055 4,523
Trade facility 3,330 - 2,733
Virtual credit card 988 898 877
Total working capital facilities 10,279 4,953 8,133
Asset financing 4,118 3,390 3,682
Debt 14,397 8,343 11,815
Less cash and cash equivalents 1,228 1,310 930
Net Debt 13,169 7,033 10,885
Net debt is defined as cash, less banking working capital facilities and asset
financing and excludes property leases. Working capital facilities are
included within trade and other payables.
As at 30 June 2023 there is headroom of £3.8m in working capital facilities
(31 December 2022 £4.0m; 30 June 2022 £4.7m).
7. 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 six months ended 30 June 2023 Unaudited six months ended 30 June 2022 Audited twelve months ended 31 December 2022
£'000 £'000 £'000
(Loss) for the financial period (3,267) (7,066) (10,929)
Number of shares Number Number Number
'000 '000 '000
Weighted average number of shares 172,420 136,429 143,313
EPS Summary
Basic and diluted loss per share (1.9p) (5.2p) (7.6p)
8. Share Capital
The number of ordinary shares in issue as at 30 June 2023 is 172,419,741
shares (31 December 2022 - 172,419,741).
The number of shares held by the EBT and referred to as Treasury shares was
2,045,230 (30 June 2022: 4,293,194, December 2022: 4,293,194).
9. 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.
10. Copies of the interim report
The interim report for the six months ended 30 June 2023 can be downloaded
from the Company's website www.sisplc.com (http://www.sisplc.com) . Further
copies can be obtained by writing to the Company Secretary, Science in Sport
plc, 16-18 Hatton Garden, Farringdon, London, EC1N 8AT.
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AnnouncementREG - Science in Sport PLC - Notification of Major Holdings
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