Trading Update and Financial Guidance
London, Aug. 30, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Rapid Nutrition PLC (SW:RAP, OTCQB:RPNRF), a natural wellness company focused on organic wholefood-based nutrition and science-based herbal products, announced the following trading update ahead of the publication of its Interim Results for the period ended 30 June 2020, scheduled to be released on 30 September 2020.
Even during a global pandemic, the company continues to realize strong market demand for health supplements, with its flagship brand SystemLS™ in particular, including a variety of organic and natural high-protein vegan shakes, superfoods, whey protein, metabolism boosters and high-fiber bars.
2020 Interim Financial Highlights
Financial highlights for the period to date include:
- Revenue for the period reached $3.375 million, up 9% compared to the same period last year when revenue was $3.104 million.
- Gross margin was $1.913 million, compared to $2.053 million the same period last year, with continued growth anticipated for the remainder of the year as the company progresses its strategy of bringing to market innovative science-based organic products across multiple categories to anchor future earnings.
Interim 2020 Operational Highlights
Noteworthy annual highlights for Rapid Nutrition for the period in review include:
- Further expansion of the company’s global distribution with new partnerships in Brazil, France, Italy, Switzerland, Jamaica and the Caribbean Community (CARICOM).
- Impressive growth through the company’s direct-to-consumer channels for its flagship brands.
- Initiated preparations to launch a significant oral anti-viral prevention therapy designed to help relieve symptoms of colds and the flu, which was granted an Innovation Patent in 2016.
- Awarded an Innovation Connections Grant from the Australian Government to further support the development of its cold and flu therapy. The company was also accepted into the touted Entrepreneurs Programme, which shares expert advice, funding and incentives to help businesses innovate, compete and grow.
- A continued focus of driving science-driven product innovation in the health and wellness sector, the company recently bolstered its scientific management team, welcoming renowned naturopath and herbalist Ruth Kendon to its well-established management team as the company continues to expand its portfolio of science-based products.
- The group incorporated Rapid Nutrition Science, which will house the intellectual property for the herbal anti-viral and focus on in-house development of cutting-edge natural science formulas. This will provide Rapid Nutrition PLC with an exclusive worldwide licensing deal in a category which is expected to witness substantial growth, with the global market for immune health supplements likely to exceed a valuation of US$25 billion, according to Persistence Market Research.
On Jan. 1, 2020, few prognosticators would have predicted the direction the year was to take. In the wake of Covid-19, Rapid Nutrition has performed with innovation and inspiration to deliver impressive results and outcomes.
The work delivered over the interim period will guide and inform the months to come, laying a foundation for an anticipated strong six months. As an example, Rapid Nutrition’s Sydney retail store initially faced reduced revenue following lost foot traffic. However, since we offer a multi-channel distribution approach, we were able to quickly adapt during the lockdown orders to optimize online direct-to-consumer channels to not only sustain revenue, but to bolster revenues compared to the same period last year.
“I am incredibly proud of our management team’s resilience and ability to quickly adapt to conditions out of our control to ensure the company’s continued growth and strength,” said Rapid Nutrition CEO Simon St. Ledger. “We were fortunate to have such an experienced team during challenging times to continue to steer our company in a positive direction.”
The senior leadership team and the Rapid Nutrition board have been working diligently side by side to continually create shareholder value by increasing visibility and viability. Rapid Nutrition continues to invest heavily in its team, intellectual property and product offerings, particularly in the cold and flu category and the rapidly growing vegan category.
Moreover, Rapid Nutrition is well-positioned within the industry moving into the next quarter and eventual post-Covid, where demand for health supplements is likely to remain at an all-time high with consumers who are more mindful than ever of the importance of health, wellness and immunity.
“In truth, the most exciting aspect of these results is the potential for even more growth. As we continue to scale our global distribution model, management team and IP in trending categories, we anticipate increased product demand and global reach,” St. Ledger added.
As Rapid Nutrition continues to expand markets, operations and distribution for its award-winning nutraceutical brands, it will bolster its marketing initiatives into retail stores as well as digital assets to capitalize on its direct-to-consumer channel with the release of a high-quality video series of quick and easy recipes created by a celebrity chef that use SystemLS products to support healthy eating habits. With the expansion into new markets and new products, the company expects to grow sustainably to support its continued growth strategy organically and by introducing new products into its established distribution pipelines.
The interim financials will be published on the company’s website on 30 September 2020.
About Rapid Nutrition PLC
Rapid Nutrition PLC(SW:RAP, OTCQB:RPNRF): Dedicated to the development and distribution of premium, science-based health and wellness brands across the globe, Rapid Nutrition shares a wealth of award-winning products with consumers who are passionate about innovations that are “made by nature, refined by science.” Rapid Nutrition’s first-class scientific team matches the experience of its management team to keep both the company and consumers on top of the latest industry trends and developments, while aligning with industry leaders worldwide to deliver effective supplements and solutions. For more information, please visit http://rnplc.com
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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 PLCs 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.
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