Applied Nutrition said full-year revenue and profit would come in ahead of expectations, and guided to further growth in the year ahead, as the sports nutrition brand’s rapid expansion continued.
The company expects revenue for the year to 31 July to have risen 50% to £160m, with adjusted EBITDA up 40% to about £43.3m, beating market consensus.
It ended the year with net cash of £15.9m, after buying the trade and assets of Nutrablend, investing in extra production capacity and building working capital to support growth.
For the new financial year, Applied Nutrition guided to revenue of around £205m and adjusted EBITDA of about £49m, again above consensus.
However, it flagged that its EBITDA margin would edge down slightly, reflecting a greater revenue contribution from the US, significantly higher whey protein costs and a bigger share of sales from whey-based products following a successful relaunch of its Critical Whey range.
Applied Nutrition shares were around 5% higher at the time of writing.