Applied Nutrition has once again upgraded its full-year forecasts as the sports performance group performed significantly ahead of expectations in the peak January health and fitness period.
Revenues increased 57% to £74.5m in the six months to 31 January with EBITDA ahead of management expectations, the group said in a trading update.
Retail orders and resultant customer stock levels were significantly above expectations in January, which Applied Nutrition said was a consequence of the success of its channel diversification across UK high street health retailers, grocers and discounters.
Together with accelerated demand for a number of first-half product launches, this is expected to result in a more H1 weighted revenue profile than in prior years.
Reflecting the strong first half performance, the group now anticipated that FY26 results would be ahead of updated market consensus expectations. It follows Applied Nutrition already raising expectations in a surprise update in December when the group estimated revenues and EBITDA would exceed market consensus by about 10%.
Management currently expects full year revenue of approximately £140m.
Applied Nutrition will announce its interim results on 23 March.
Shares in the group jumped by 7% as markets in London opened this morning and are up by about 91% since Applied Nutrition floated in October 2024.
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