Applied Nutrition has made a strong start to life as a listed company by reporting revenues for the six months to 31 January 2025 that were ahead of guidance provided at the time of the IPO.
Revenues for the period were £47.6m – higher than the £46m the supplements and wellbeing company said they expected to generate at the time of the IPO.
“We are pleased to have announced a positive set of maiden results, ahead of what we said we would do at the time of IPO, with the Company delivering strong growth, expanding globally, and driving innovation in our industry,” said Thomas Ryder, CEO of Applied Nutrition.
“This has been a period of significant milestones and progress – our IPO in October, launching our first TV advert to promote our products starring Coleen Rooney, developing relationships with exciting new customers, and expanding into new geographies. The interest in our brand since our IPO has reached new heights and we are very grateful for the strong support we have received from our customers, partners and shareholders.”
Despite revenues growing in the period, Applied Nutrition’s adjusted Ebitda fell 15% to £13.8m in the period and margins contracted. Operating profit fell 28%.
Applied Nutrition’s shares are down materially from their 140p IPO price. Falling profits and lower margins will do little to encourage the share price back up to the listing price.
The company said it is increasing shelf space with major retailers and growing its social media reach through collaborations with celebrities such as Coleen Rooney. These played a part in higher revenues.
Investors, however, will want to see higher revenues translate into higher profits.