UK's Science in Sport gains on upbeat trading outlook for 2023
22/02/2023 10:39
** Shares of food processing and nutrition company Science
in Sport SISS.L rise as much as 15% to 15p
** SISS optimistic about trading in 2023; says retail in all
regions in line with company's expectations for growth, with
strong start in UK
** Company reports FY trading broadly in line with
expectations, with revenue of 63.5 mln pounds ($76.69 mln) vs
62.7 mln pounds a year earlier
** SISS also reports stronger margin performance in second
half of the year, driven by logistics efficiencies in its
Blackburn site
** Company expects costs to be flat in 2023, despite
continuing wage inflation
** Sees 2023 sales to consumers to outperform in March
** Stock set to record its best day since August 2022, if
trend continues
** Including session's gains, stock down about ~3% YTD
($1 = 0.8280 pounds)
(Reporting by Sruthi Narasimha Chari in Bengaluru)
((Sruthinarasimha.chari@thomsonreuters.com))