Rapid Nutrition PLC (RPNRF)

[jedijazz]

$RPNRF Financial Highlights posted; Rapid Nutrition Final results ~ November 1, 2019

Robust platform for Growth


Rapid Nutrition ((RAP:SW, OTCQB: RPNRF), a natural healthcare company focused on the research, development and production of a range of life science products, is pleased to announce its audited results for the year ended 30 June 2019.


Company revenue FY19 $3.1m with $1m operating profit compared to the previous year revenue of $4.1m with $1.9m operating profit respectively. Revenue adjustment in 2019 due to timing of new sales contracts, mainly GNC and Sigma Ltd commencing in the first quarter of new financial year. Gross profit improved compared 2018 where the Company incurred higher costs as a result of exploring various listing venues.



Significantly increased SystemLS™ distribution footprint across 500 GNC stores in North America and 100 Discount Drug Stores in Australia via recent Sigma Ltd distribution agreements.



Total revenue for FY19 $3.1m of which company branded products contributed $2.3m.



Highly successful launch of GNC products (Beyond Raw®, AMP Gold™, Climb™) into Australia into 100 Discount Drug stores nationally.



Operating profit of $1m was lower due to investments made in corporate listings, brand development and growth.



DTC customer base and reach, through the groups Top Ryde Health Food store channel in Sydney Australia delivering $827k for the first full year of operation.



Outlook

A very positive start to the new financial year with current trading being in line with management's expectations.

SystemLS™ will benefit from a full-year contribution from ranging in GNC stores in FY2020

GNC product sales in Australia expected to make a significant contribution to current FY with minimum-order quantities.

Significant new retail and DTC channels added in US and Australia and distributors appointed in regions expected to contribute to future growth.

Major new product launch with multiple SKUs intended to add value to product portfolio for DTC and retail channels.

Supply chain being consolidated to ensure inventory management has the capability to support expected growth.





Simon St Ledger, Managing Director of Rapid Nutrition Plc said, "I am very pleased to report an excellent set of results despite retail head winds. Going forward, we will be focused on product innovation and launching our brands in new territories, the combination of which we believe will further accelerate growth during the upcoming fiscal year. We are excited about the opportunities that lie ahead, supported by a near term major launch in a new category, and a growing international retail footprint, the Group is well placed to generate further growth. The year has started very positively, and current trading is in line with management's expectations."



Further enquiries



Simon St Ledger/Michael Zhu



[phone]



IR Contact

[e-mail]



About Rapid Nutrition:

Rapid Nutrition (RAP:SW, OTCQB: RPNRF), a natural healthcare company focused on the research, development and production of a range of life science products. Rapid Nutrition has presence in US, Australasia, and Asia.

www.rnplc.com