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

The ten highest dividend yields in the FTSE 100
Income investing

The ten highest dividend yields in the FTSE 100

Rupert Hargreaves takes a look at the companies with the highest dividend yields in the UK’s blue-chip index
6 Feb 2023
The outlook for Shell shares is mixed, despite bumper profits
Energy stocks

The outlook for Shell shares is mixed, despite bumper profits

With profits surging, it looks as if Shell is on a roll, but the company’s growth from here is hard to see as Rupert Hargreaves explains.
6 Feb 2023
The top funds to invest in
Funds

The top funds to invest in

As market volatility and recessionary fears continue, here are the most popular funds, stocks and trusts investors are putting their money into accord…
2 Feb 2023
The top ten dividend stocks in the FTSE 250
Share tips

The top ten dividend stocks in the FTSE 250

The average FTSE 250 dividend yield is around 4%, but many stocks yield much more. Rupert Hargreaves picks the best FTSE 250 stocks for income investo…
17 Jan 2023

Most Popular

Share tips of the week – 3 February 2023
Investments

Share tips of the week – 3 February 2023

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages
3 Feb 2023
The best one-year fixed savings accounts - February 2023
Savings

The best one-year fixed savings accounts - February 2023

Earn almost 5% on one-year fixed savings accounts.
6 Feb 2023
Will energy prices go down in 2023?
Personal finance

Will energy prices go down in 2023?

Wholesale gas prices are on a downward trajectory, but does this mean lower energy bills later this year?
6 Feb 2023