• Sun. Apr 14th, 2024

Science in Sport Takes Strategic Overhaul to Improve Profitability

BySamantha Johnson

Mar 6, 2024
Science in Sport pivots operating strategy to prioritize profitabiity

Performance nutrition company Science in Sport has recently undergone changes to its operating model following a comprehensive business review. The new leadership team, which took over in the last quarter of 2023, identified strategic missteps that had resulted in increased costs and prioritization of revenue growth over profitability.

To address these issues, Science in Sport is taking several key actions. The company has streamlined its executive team by eliminating senior roles and is reassessing its overseas distribution agreements to focus on securing and growing profitable revenue streams. In addition, supplier relationships and product inventory are being reviewed for optimization. Marketing spend will now be tied to measurable commercial results, with cost savings already achieved and more efficiencies expected in 2024.

Despite experiencing lower revenues in 2023, Science in Sport met market expectations for EBITDA. The company’s focus on cash and profit resulted in improved margins in the final quarter of the year. While 2024 revenue is forecasted to be relatively stable, Science in Sport anticipates doubling underlying EBITDA and reducing net debt.

These changes mark a significant shift in the company’s direction and strategy as it aims to improve profitability and reduce debt moving forward. As of midday on March 6th, shares in Science in Sport were down 2.69% at 16.3p.

By Samantha Johnson

As a content writer at newszkz.com, I delve into the realms of storytelling, blending words to paint vivid narratives that captivate and inform our readers. With a keen eye for detail and a passion for research, I craft compelling articles that resonate with our audience. My love for words drives me to explore diverse topics, ensuring that each piece I create not only educates but also entertains. Join me on this journey as we navigate the ever-evolving landscapes of news and knowledge together.

Leave a Reply