Applied Nutrition saw its shares fall in early trading today (23 March) after the UK company signalled it expects its sales in the Middle East to come under pressure.
The London-listed group booked a 57% jump in first-half revenue and maintained its full-year guidance but the sports-nutrition group’s share price was down more than 4% at the time of writing.
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“We continue to monitor the evolving situation in the Middle East and, whilst we are well diversified globally, we are cognisant of the current disruption to shipping routes and purchasing activities within the region as well as the uncertainty around how long these conditions may persist,” CEO Thomas Ryder said.
“Importantly, we have managed similar disruption in the past, supported by the agility of our operations. In this instance, we are working closely with customers to adapt our routes into the region and logistics arrangements to safeguard continued supply to those customers.
“Although we expect some reduction in volumes into the region during the second half, at this stage there is no change to FY26 guidance.”
Applied Nutrition, which upped its top-line forecast last month, expects its annual revenue to reach around £140m ($187.8m) versus £107.1m a year earlier.
In the six months to the end of January, the company’s revenue rose 56.5% to £74.5m.
Operating profit increased from £11.5m to £20.7m. Profit for the period attributable to equity shareholders reached £15.4m versus £8.9m a year earlier.
“This six-month period has further highlighted both the breadth of opportunity before us and our proven ability to realise it. The performance and momentum across the business reflects a consumer environment that continues to shift decisively towards health, fitness and wellbeing,” Ryder said.
Applied Nutrition divides its revenue across three geographic markets of the UK, Europe and International. UK revenues increased 45.8% to £31.5m, rose 37.5% in Europe to £8.8m and jumped 74.5% in the International markets to £34.2m.
“International sales grew particularly strongly as we saw significant increased demand in the Middle East as well as in LatAm,” the company noted.
The business, which went public in 2024, markets four of its own brand ranges – Applied Nutrition, ABE, BodyFuel and Endurance – with over 100 products sold in more than 85 countries.
Shares in Applied Nutrition, up more than 70% over the last 12 months, were down 4.52% at 211p at 12:40 GMT.
