Protein supplement manufacturer Applied Nutrition has surpassed the forecasts it provided during its initial public offering, with turnover climbing by a quarter over the past year.
The health and wellness company, which debuted on the London Stock Exchange last October, released preliminary full-year earnings estimates on Tuesday morning, as reported by .
Group turnover for the year ending July 31 is anticipated to exceed market projections, with revenue climbing 24 per cent year-on-year to £107m.
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Turnover had been forecast to reach £100m, indicating the latest figures are seven per cent above expectations.
Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) increased approximately 19 per cent year-on-year to £30.94m.
Net cash is also projected to outperform market forecasts, reaching £18.5m compared to the market consensus of £16.6m.
Applied Nutrition's continued growth
Applied Nutrition now anticipates turnover for the 2026 financial year will exceed its previous guidance of £112.4m.
Chief Executive Thomas Ryder said the business was "proud" to outperform its IPO projections, with its "first full-year results expected to come in ahead of market expectations."
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"Our focus and ambition remain as strong as ever – in delivering for our shareholders, customers and team – and we are excited about the opportunities we have in the pipeline for the year ahead," Ryder said.
Shares in Applied Nutrition have declined 2.8 per cent since flotation, though the stock has gained 2.5 per cent over the past month. The Liverpool -based company, supported by sportswear titan JD Sports, initially garnered £157.5m from the offering at a rate of 140p per share, giving it a valuation of £350m.
Its current market value stands around £320m.
Primarily operating in the business-to-business sector, the firm markets its products in over 85 countries under four distinct ranges – Applied Nutrition, ABE, BodyFuel, and Endurance.
The official results for the financial year ending 31 July 2025, will be announced on 10 November.