Science In Sport (GB:SIS) has released an update.
Science in Sport plc has reported a shift towards profitable growth, with their interim H1 FY24 results showing a 74% improvement in EBITDA and a 2.6 percentage point gross margin increase despite a 25.4% revenue drop, attributed to strategic cost rationalization and operational efficiency. The company has completed an oversubscribed equity fundraising of approximately £8.5m to fund growth and has restructured to enhance margins, expecting to generate cash and reduce debt in the medium term. This transition focuses on solidifying the brand’s position through controlled growth and improved commercial execution while investing in innovation and market penetration.
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