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Rapid Nutrition PLC: Operational Update Donnerstag, 17. Mai 2018 - 07:00
Rapid Nutrition PLC / Key word(s): Miscellaneous
Rapid Nutrition PLC: Operational Update
17.05.2018 / 07:00
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Rapid Nutrition PLC
("Rapid Nutrition" or "the Company")
Operational Update
Rapid Nutrition, a natural healthcare company focused on the research and
development, manufacturing and distribution of weight-loss and diet
management products, sports nutrition products, vitamins and dietary
supplements and a range of life science products, is pleased to announce an
operational update.
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.
US
The US is a core market for the business and Rapid Nutrition continues to
make inroads in this large and complex market having extended its
distribution to Amazon, the largest internet retailer in the world for
selected System LS(TM) products available to purchase online. In addition,
the Company has secured a number of independent retail accounts and is in
discussions with other distribution partners.
AUSTRALIA
The Company secured a number of new retailers including Drakes Supermarkets,
the largest independent grocery retailer in Australia with more than 50
stores in South Australia and Queensland. As previously announced, the
Company secured an exclusive Master Distribution Agreement (the "Agreement")
with General Nutrition Corporation ("GNC"), one of the world's leading
global speciality, health, wellness and performance retailers listed on the
New York Stock Exchange (NYSE: GNC), granting Rapid Nutrition the exclusive
right to market, sell and distribute GNC products in Australia through
multiple channels including retail stores, e-commerce and other third-party
retailers. In addition, Rapid Nutrition will be able to distribute its own
brands through the GNC global network.
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
As part of the GNC Australia launch, the Company has recently opened its
first health food store in a prominent location in Sydney, Australia where
it will promote its extended product range.
CHINA
System LS(TM) has been approved in several categories in preparation for
expanding Rapid Nutrition's brand presence in China. The Company is also
supporting the entry into China by extending the Company's audience of
followers on WeChat, China's leading social media platform with nearly 1
billion users. The Company has recently sent an order of its organic Satisfy
bars to one of its China partners who will roll the product out to its
already well-established customer base.
UK
Rapid Nutrition is seeking to expand in the UK and is in discussions with a
number of retail partners in addition to establishing its own DTC platform
and social media campaigns. To support its growth strategy and entry into
the UK, the Company has appointed Iain Lang as Senior Manager (UK). Iain has
extensive experience in nutraceuticals. He is the Managing Director of
KickStand Marketing, a marketing agency specialising in health and wellness
and has previously worked for Ceuta Healthcare where he was responsible for
the sales and marketing of a client portfolio of vitamins and mineral
supplements.
The Company continues to explore the possibility of also listing its
ordinary shares on a UK stock exchange but notes the outcome of this process
will be subject to obtaining relevant approvals. The Six Swiss Exchange
continues to be the trading venue for the Company's securities.
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."
Further enquires
Rapid Nutrition Plc Simon St. Ledger + 61 (0)7 3200 4222
Hybridan LLP Claire Noyce +44 (0)203 764 2341
TB Cardew Shan Shan Willenbrock +44 (0) 20 7930 0777
Joe McGregor
About Rapid Nutrition
Rapid Nutrition is a natural healthcare company focused on the research and
development, manufacturing and distribution of weight-loss and diet
management products, sports nutrition products, vitamins and dietary
supplements and a range of life science products. The Company has registered
products in and or exported its products to Australia, Asia, Europe, Middle
East, Africa and the US.
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.
