In sports science, the sports business of British sports companies’ private equity acquisitions has been posted on full-year revenue, but its net losses have narrowed.

The London-listed business reported today (April 28) that revenue fell 17.2% to £51.9 million ($69.3 million) to December 31. Its bottom line loss began to shrink to 2.3p per share from 6.6pa a year ago.

In its results commentary, the company said 30 employees left the business in 2024, saving a lot of operating costs. Includes “multiple advanced roles” in employee exports, Sports Science added.

Last July, the company said it raised £8.5 million and then spent on the oversubscribed stock fundraising round.

Earlier this month, Sports Science directors reached a bidding agreement for acquisition with private equity firm BD Capital.

BD Capital's offer is £0.34 per share, estimating owners of SIS and PhD nutrition brands at £82.3 million. The transaction still has to be approved by shareholders.

For the year, the company said it aims to “profit revenue growth through domestic and international distribution agreements; controllable growth in medium-term growth supported by effective marketing with clear commercial execution; and, ongoing cost challenges continue to raise additional gaps from ongoing cost challenges, resulting in cash generation and transactions.”

Sports Science reported today that gross profit margin in 2024 increased from 42.8% in the corresponding period to 45.3%. The so-called transaction contribution margin increased from 20.5% to 26.6%.

The underlying EBITDA has more than doubled to £4.2 million, while the associated profit margin soared from 3.2% to 8.2%.

"Overall, 2024 was a successful year for the group after appointing a new executive team in the last quarter of 2023. This new team was responsible for driving change and resetting the operational model of the business, which ultimately made us perform the final performance, but we ended up being proud of it, but this performance made us proud of the level needed."

He added: “After completing a comprehensive business review in 2023, the group continued to make significant strategic progress and the board remains confident that the business will re-grow from a stronger operating platform and improve operating margins and cash creation.”

Sports Science says it has secured new distribution agreements in the Middle East and expanded its market in the Australian market. “These two regions will be important areas of international growth throughout 2025 and beyond,” the company said.