Applied Nutrition, the sports nutrition business backed by JD Sports and Coleen Rooney, has posted forecast-beating sales and profits in its first year as a public company, defying concerns over consumer spending.
The Liverpool-based firm told investors that revenues for the year to 31 July are expected to hit £107 million, comfortably ahead of City forecasts of £100 million and up 24 per cent year-on-year. Adjusted underlying profit is also set to be 19 per cent higher than the previous year, excluding exceptional costs linked to its flotation last October.
The strong update comes after a robust second half of trading, leaving the company with a better-than-expected £18.5 million cash position.
Applied Nutrition was founded in 2014 by chief executive Thomas Ryder, 41, who began selling supplements while working as a scaffolder before moving into wholesale and eventually creating his own brand. The company now sells more than 100 products — including protein shakes, energy drinks and vitamins — in over 85 countries.
Its rapid growth has attracted heavyweight backers including Peter Cowgill, the former JD Sports executive chairman; Asda co-owner Mohsin Issa; and Andy Bell, founder of investment platform AJ Bell, who now chairs the company. Rooney, the wife of ex-England footballer Wayne Rooney, is also an investor. JD Sports holds an almost 10 per cent stake.
Applied Nutrition floated at 140p a share in October 2024 in one of London’s biggest listings of the year. On Monday, shares jumped 11p, or 8.5 per cent, to 142.5p, valuing the company at about £328 million. The gains also helped lift JD Sports, which rose 7 per cent to lead the FTSE 100.
Analysts praised the performance. Peel Hunt described the figures as “highly impressive … given the uncertainty at the half-year”, while Panmure Liberum’s Wayne Brown argued the shares “deserve to go much stronger … having not missed a beat since its float and now delivering meaningful upgrades”.
Applied Nutrition said its business-to-business model, focus on product innovation and brand quality would continue to underpin growth. The company added that current momentum meant revenues this year should exceed analysts’ forecasts of £112.4 million.
Ryder said: “Our focus and ambition remain as strong as ever — in delivering for our shareholders, customers and team — and we are excited about the opportunities we have in the pipeline for the year ahead.”
