Rapid Nutrition Plc Trading update
January 14, 2020
Rapid Nutrition Plc
("Rapid" or the "Company")
Rapid Nutrition Plc (OTCQB: RPNRF), a natural healthcare company focused on the research, development and production of a range of life science products, is pleased to announce a trading update for the six months ended 31 December 2019.
The Company generated revenue of $1.78m (H1 FY2019: $0.78m) in the period under review and continues to progress its strategy of bringing to market new products, across multiple categories, which it believes will anchor the future earnings of the business.
An increase of 229% as the Company secured two significant sales contracts from GNC & Sigma which forms the solid platform for top line revenue objectives. Despite the retail headwinds in North America & Australia, sales for the period have grown considerably, driven predominantly by the SystemLS brand.
The second half of the year has begun strongly through the retail channels and the company continues to expand its global distribution footprint and has entered discussions with a well-established African based healthcare company.
The company’s Direct to Consumer channel strategy through its partnership with Streamcast Marketing is anticipated to expand considerably with a major brand launch of SystemLS scheduled this quarter, driving incremental revenue and increased margins in the second half of the financial year.
Through the company’s global logistic partner Super Health Center (“SHC”) has presented the company’s flagship brand to key retailers in the UK and the Middle East with in-market visits. The response has been encouraging and initial orders are also expected in this quarter.
Rapid Nutrition CEO, Simon St. Ledger stated, “The Board believes there are significant opportunities to grow the business organically and through acquisitions. Our focus in FY2020 will be based around these initiatives to generate further growth over the long term. We expect the second half of the year to be disproportionally higher than in previous years given the phasing of our substantially wider distribution network and we remain confident that this will be a year of substantial growth across the business.”
The groups half year report will be published March 30th, 2020
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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This press release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks, uncertainties and assumptions that could cause Rapid Nutrition PLCs actual results and experience to differ materially from anticipated results and expectations expressed in these forward-looking statements. Rapid Nutrition PLC has in some cases identified forward-looking statements by using words such as "anticipates," "believes," "hopes," "estimates," "looks," "expects," "plans," "intends," "goal," "potential," "may," "suggest," and similar expressions. Rapid PLC undertakes no obligation to release publicly the results of any revisions to any such forward-looking statements that may be made to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events, except as required by applicable law or regulation.
This media information does not constitute an offer to sell, or a solicitation of an offer to buy, any securities. This information does not constitute an offering prospectus or a listing prospectus within the meaning of the listing. 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 reporting Exchange Act Rule 12g3-2(b).