Protein shake maker Applied Nutrition has exceeded the guidance it gave at its IPO, with revenue up a quarter in the last year.
The health and wellness brand, which listed on the London Stock Exchange last October, gave a provisional estimate of its full-year earnings on Tuesday morning.
Group revenue for the year ended July 31 is expected to be ahead of market expectations, with revenue up 24 per cent year on year to £107m.
Revenue had been slated to come in at £100m, suggesting the new numbers are seven per cent ahead of projections.
Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) rose approximately 19 per cent year on year to £30.94m.
Net cash is also expected to come in ahead of market expectations, at £18.5m. Market consensus had been £16.6m.
Applied Nutrition’s continued growth
Applied Nutrition now expects revenue for the 2026 financial year to beat previous guidance of £112.4m.
CEO Thomas Ryder said the company was “proud” to exceed its IPO guidance, with its “first full-year results expected to come in ahead of market expectations”.
“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,” Ryder said.
Shares in Applied Nutrition have fallen 2.8 per cent since listing, although shares have risen 2.5 per cent in the last month.
The Liverpool-based firm, which is backed by sportswear giant JD Sports, initially raised £157.5m from the offering at a price of 140p per share, valuing it at £350m. It is currently valued at around £320m.
The company, which is mainly business-to-business, sells products in over 85 countries under four ranges – Applied Nutrition, ABE, BodyFuel, and Endurance.
It will release its official results for the year ended July 31, 2025, on November 10.