EQS Group-News: Rapid Nutrition PLC / Key word(s): Miscellaneous
Rapid Nutrition PLC
The Company has followed a clear strategic direction and has made good progress towards transitioning from a licensing model to a distribution model, with the objective of becoming vertically integrated. The Company has now secured a number of key distribution partners in the US, China and Australia, broadening and strengthening the business. In order to support this growth, the Company has successfully raised approximately £0.8m in the current financial year.
Benefits of the Agreement
- The Agreement enables Rapid Nutrition to expand its product offering in the Australian market with one of the largest and most respected companies in the industry
- Additional revenue streams will be created for the Company by partnering with GNC and establishing its brands in Australia
- Rapid Nutrition will be able to distribute its own brands through the GNC global network creating an additional source of revenue
The Company recently reported its results for the six months ended 31 December 2017 which generated £1.56m in revenue and a gross profit of £1.1m. Profit before tax was £0.19m (six months results are unaudited). For the year ended 30 June 2017, the Company generated audited revenue of £1.9m and audited gross profit of £1.3m (70% gross margin). Profit before tax was £0.48m.
Simon St. Ledger, Chief Executive Officer of Rapid Nutrition said:
"Rapid Nutrition is making excellent progress in its international expansion and we are delighted to have secured a number of key retail partners including GNC. The business is transitioning from a licensing model to a distribution model with the objective of becoming vertically integrated and our strategy to grow our distribution channels both in retail stores, online and through our DTC platform is well under way. As part of the process, the Company has also established its own retail health food store in Sydney, Australia this month. The store provides a great platform to market our own brands and GNC brands. This, together with our recent funding and our other achievements, means we are excited about the Company's prospects and confident of our performance in 2018."
About Rapid Nutrition
Disclaimer: This communication expressly or implicitly contains certain forward-looking statements concerning Rapid Nutrition PLC and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of the Rapid Nutrition group to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Rapid Nutrition PLC is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.
This media information does not constitute an offer to sell, or a solicitation of an offer to buy, any securities. This information does not constitute an offering prospectus within the meaning of article 652a or article 1156 of the Swiss Code of Obligations or a listing prospectus within the meaning of the listing rules of the SIX Swiss Exchange.
This media information is not being issued in countries where the public dissemination of the information contained herein may be restricted or prohibited by law. In particular, this media information is not being issue in the United States of America and should not be distributed to U.S. persons or publications with a general circulation in the United States. Any non-compliance with such restrictions may result in an infringement of U.S. Securities Laws. In particular, the securities of Rapid Nutrition PLC have not been registered under the U.S. Securities laws and may not be offered, sold or delivered within the United States or to U.S. persons absent the registration under or an applicable exemption from the registration requirements of the U.S. Securities laws.
This information is for distribution in the United Kingdom only to: persons who (i) are outside the United Kingdom; (ii) are investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (Order); (iii) are persons falling within Article 48(2) of the Order (certified high net worth individuals); (iv) are persons falling within Article 49(2) of the Order (high net worth companies, unincorporated associations, etc.); (v) are persons falling within article 50(1) of the Order (sophisticated investors); (vi) are persons falling within article 50A(1) of the Order (self-certified sophisticated investors); (vii) are persons falling within article 51 of the Order (associations of high net worth or sophisticated investors); or (viii) are persons to whom it may otherwise lawfully be communicated (all such persons together being Relevant Persons). This media information is only available to Relevant Persons and persons other than Relevant Persons must not act or rely on it.
This media information may not be provided in Australia other than to select investors ("Exempt Investors") who are able to demonstrate that they (a) fall within one or more of the categories of investors under section 708 of the Australian Corporations Act to whom an offer may be made without disclosure under Part 6D.2 of the Australian Corporations Act and (b) are "wholesale clients" for the purpose of section 761G of the Australian Corporations Act.
End of Corporate News