Rapid Nutrition PLC / Key word(s): Annual Results
Rapid Nutrition PLC: Robust platform for Growth
01.11.2019 / 17:00
---------------------------------------------------------------------------
Rapid Nutrition PLC
("Rapid Nutrition", the "Company" or the "Group")
Final results
Robust platform for Growth
Rapid Nutrition ((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 its audited results for the year
ended 30 June 2019.
Financial Highlights
FY2019 FY2018 % change
Revenue $3,104,879 $4,147,046 - 25%
Gross profit $2,053,041 $4,036,386 + 49%
Operating Profit $1,019,068 $1,912,394 -45%
Basic EPS (dollar) 0.04 0.07 - 43%
* Company revenue FY19 $3.1m with $1m operating profit compared to the
previous year revenue of $4.1m with $1.9m operating profit respectively.
Revenue adjustment in 2019 due to timing of new sales contracts, mainly
GNC and Sigma Ltd commencing in the first quarter of new financial year.
Gross profit improved compared 2018 where the Company incurred higher
costs as a result of exploring various listing venues.
* Significantly increased SystemLS distribution footprint across 500
GNC stores in North America and 100 Discount Drug Stores in Australia
via recent Sigma Ltd distribution agreements.
* Total revenue for FY19 $3.1m of which company branded products
contributed $2.3m.
* Highly successful launch of GNC products (Beyond Raw(R), AMP Gold,
Climb) into Australia into 100 Discount Drug stores nationally.
* Operating profit of $1m was lower due to investments made in corporate
listings, brand development and growth.
* DTC customer base and reach, through the groups Top Ryde Health Food
store channel in Sydney Australia delivering $827k for the first full
year of operation.
Outlook
* A very positive start to the new financial year with current trading
being in line with management's expectations.
* SystemLS will benefit from a full-year contribution from ranging in
GNC stores in FY2020
* GNC product sales in Australia expected to make a significant
contribution to current FY with minimum-order quantities.
* Significant new retail and DTC channels added in US and Australia and
distributors appointed in regions expected to contribute to future
growth.
* Major new product launch with multiple SKUs intended to add value to
product portfolio for DTC and retail channels
* Supply chain being consolidated to ensure inventory management has the
capability to support expected growth.
Simon St Ledger, Managing Director of Rapid Nutrition Plc said, "I am very
pleased to report an excellent set of results despite retail head winds.
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. We are excited about the
opportunities that lie ahead, supported by a near term major launch in a new
category, and a growing international retail footprint, the Group is well
placed to generate further growth. The year has started very positively, and
current trading is in line with management's expectations."
Further enquiries
Rapid Nutrition +44 20 3239 2561
Simon St Ledger/Michael Zhu
IR Contact [1]ir@rnplc.com
1. mailto:ir@rnplc.com
About Rapid Nutrition:
Rapid Nutrition ((RAP:SW, OTCQB: RPNRF), a natural healthcare company
focused on the research, development and production of a range of life
science products. Rapid Nutrition has presence in US, Australasia, and Asia.
www.rnplc.com
Forward-Looking Statements
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 PLC's 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.
Disclosure Requirement:
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 within the meaning of article 652a or
article 1156 of the Swiss Code of Obligations or a listing prospectus within
the meaning of the listing rules of the SIX Swiss Exchange. 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).
© 2019 Tensid Ltd., Switzerland
