Rapid Nutrition Half Year Results

March 31, 2019

Rapid Nutrition PLC

(“Rapid Nutrition” or “the Company”)

 

 

Rapid Nutrition Plc, a natural healthcare company focused on the research and development, manufacturing and distribution of weight-loss and diet management products, sports nutrition products, vitamins and dietary supplements and a range of life science products announces interim results for the six months ended 31 December 2017.

 

As disclosed in the operation update published on the 26 February 2019, the company generated revenue of £0.436m (AUD$781,000) in the period under review. The modest decline in the first six months was largely due to product regulatory challenges in Sri Lanka, which have now been addressed. The second half of the year has begun strongly with excellent progress being made across the business in support of the eventual rollout in Sri Lanka, the launch of GNC into the Australia market as well as the launch of its flagship brand SystemLS through GNC Stores in the US. Detailed planning is being finalised with retailer opening orders expected this quarter. The Company’s new health food store in Sydney, NSW Australia has performed very well since its inception mid last year. The health food store continues to deliver strong revenue’s and provides the Company with a well established platform to test new product lines  and obtain consumer feedback before investing in larger production runs.

 

The second half of the year is anticipated to be stronger, given the phasing of its wider distribution network in the US & Australia. We remain confident that that this will be a year of substantial growth across the business.

 

Financial Reports

 

Further enquires

 

Rapid Nutrition Plc      info@rnplc.com

                                    +617 3200 4222

 

About Rapid Nutrition

Rapid Nutrition is a natural healthcare company focused on the research and development, manufacturing and distribution of weight-loss and diet management products, sports nutrition products, vitamins and dietary supplements and a range of life science products. The Company has registered products in and or exported its products to Australia, Asia, India, Europe, Middle East, Africa and the US.

 

Disclaimer: Statements pertaining to anticipated developments and growth, progress of research and development, and other opportunities for the Company and its subsidiaries, along with other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management constitute forward-looking statements. Any statements that are not historical fact (including, but not limited to statements that contain words such as "will," "believes," "plans," "anticipates," "expects," "estimates,") should also be considered to be forward-looking statements. Forward-looking statements involve risks and uncertainties, including, without limitation, risks inherent in the development and/or commercialization of potential products, regulatory approvals, need and ability to obtain future capital, application of capital resources among competing uses, and maintenance of intellectual property rights. Actual results may differ materially from the results anticipated in these forward-looking statements and as such should be evaluated together with the many uncertainties that affect the company's business. The Company disclaims any intent or obligation to update forward-looking statements.

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