Provexis remains upbeat in period of 'significant change'

Provexis, which develops, licenses and markets scientifically-proven functional food and sports nutrition technologies, has reported a period of 'significant change' in the last 16 months, during which time it has acquired Science in Sport and implemented a substantial cost reduction programme.

Provexis, which develops, licenses and markets scientifically-proven functional food and sports nutrition technologies, has reported a period of 'significant change' in the last 16 months, during which time it has acquired Science in Sport and implemented a substantial cost reduction programme.

Speaking at its annual general meeting, the firm said its SiS business continues to show good revenue growth, despite the very poor weather in the summer months which affected the whole sector.

"We remain optimistic about delivering our growth and margin improvement targets for the year," it said.

"To underpin growth we have invested substantially in marketing and sales, and in recent days have launched our new e-commerce platform. Our scientific team are highly active working with key opinion leaders in endurance sports, as well as developing both new products for launch and scientifically-substantiating performance claims for existing and future products."

The firm has now completed the milestone of the first industrial scale run of its Fruitflow tablet grade powder, with a second and larger production run to take place later this month. It is now working to further consumer understanding and satisfy regulatory matters in major global markets.

The company added: "During the coming year we expect the economic climate to remain challenging, affecting brand owner attitudes to innovation in all global markets, as well as consumer spending. We will continue to execute our strategy of focusing on the twin revenue opportunities of SiS and Fruitflow, while reducing costs at every opportunity."

The share price rose 3.12% to 1.65p by 13:43.

NR

Recommended

Share tips of the week - 12 August
Share tips

Share tips of the week - 12 August

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
12 Aug 2022
Britain’s ten most-hated shares – w/e 9 August
Stocks and shares

Britain’s ten most-hated shares – w/e 9 August

Rupert Hargreaves looks at Britain's ten most-hated shares, and what short-sellers are looking at now.
10 Aug 2022
Aviva: One for income investors to tuck away
Share tips

Aviva: One for income investors to tuck away

Insurance giant Aviva is one of the highest yielding stocks in the FTSE 100 – and it’s cheap, too, making it a tempting target for income investors. R…
10 Aug 2022
Director dealings w/e 5 August: what company insiders are buying and selling
Stocks and shares

Director dealings w/e 5 August: what company insiders are buying and selling

Directors’ share dealings can often give investors an insight into the sentiment of company insiders. Here are some of the biggest deals by company di…
9 Aug 2022

Most Popular