New York - (NewMediaWire) - January 13, 2020 - Rapid Nutrition Plc (RAP:SW, 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 form 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 logistics 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 group’s 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 a number of wider services to the life sciences industry. For more information, please visit http://rnplc.com
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