LONDON UK, October 3, 2019 - Rapid Nutrition PLC (“Company”), a natural healthcare company focused on the research, development and production of a range of life science products, provided today an update to shareholders focusing on operational results in advance of its fiscal year-end for 2019.
Rapid Nutrition CEO, Simon St. Ledger, stated, “We are pleased to announce the Company continues to reach its growth milestones driven largely by the myriad of distribution agreements announced this year. The resulting expectations for the next twelve months are quite encouraging as we continue to execute our growth initiatives in tandem with our commitment to building long-term shareholder value”.
Revenue and profit before tax for FY2019 is anticipated to be in line with expectations at approximately $3.1M and $1M respectively. Gross margins are expected to remain steady as a result of our strong focus on stock and supply chain optimization.
The historical growth in profit since our inception reflects the agility of our business model, which enables us to scale our stable of brands without incurring corresponding increases in overheads.
All our brands are performing well and delivering both revenue and profit growth. SystemLS in particular contributed strongly, driven by expanded distribution through legacy brands GNC and Mr. Vitamin, resulting in the Company’s strengthened balance sheet.
The Company will announce its final results in October 2019.
Mr. St Ledger added, "Going forward, we will be focused on product innovation and launching our brands in new territories, the combination of which we believe will further accelerate growth during the upcoming fiscal year. The Board is very excited for the future and the opportunities which lie ahead."
About Rapid Nutrition
Rapid Nutrition is a natural healthcare company focused on the research, development and production of a range of life science products. The company was established based on its successful and proven weight loss supplement range which is exported worldwide and now offers consumers a growing range of health and well-being solutions to meet existing and emerging societal health concerns, as well as a providing number of wider services to the life sciences industry. For more information, please visit http://rnplc.com
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The media release is in accordance with International Reporting Standard: Rule 12g3-2(b) under the Securities Exchange Act ('Rule 12g3-2(b)') permits non-U.S. companies with securities listed primarily on a Qualified Foreign Exchange to make publicly available to U.S investors in English the same information that is made publicly available in their home countries as an alternative to SEC reportingExchange Act Rule 12g3-2(b).