Latest news with #DanWright
Yahoo
28-04-2025
- Business
- Yahoo
Takeover target Science in Sport's revenue slides but net loss narrows
Science in Sport, the UK sports-nutrition business in the throes of a private-equity takeover, has posted a slide in full-year revenue but net losses narrowed. Revenue to the 31 December dropped 17.2% to £51.9m ($69.3m), the London-listed business reported today (28 April). Its bottom-line loss shrank to 2.3 pence per share from 6.6p a year earlier. The company said in its results commentary that 30 staff had left the business in 2024, resulting in "significant operational costs savings". Included in the staff exits were "several senior roles", Science in Sport added. Last July, the company said it raised £8.5m before expenses in an oversubscribed equity fundraising round. Earlier this month, the directors of Science in Sport reached an agreement for a takeover bid from private-equity firm B-D Capital. B-D Capital's takeover offer amounts to £0.34 a share, valuing the owner of the SiS and PhD Nutrition brands at £82.3m. The deal still has to be approved by shareholders. In terms of the current year, the company said it aims for "profitable revenue growth through distribution agreements both domestically and internationally; controlled growth over the medium term supported by effective marketing with a clear strong commercial execution; and, continued margin improvements from ongoing cost challenge resulting in cash generation and deleveraging." The gross margin improved to 45.3% in 2024 from 42.8% in the corresponding period, Science in Sport reported today. The so-called trading contribution margin increased to 26.6% from 20.5%. Underlying EBITDA more than doubled to £4.2m, while the associated margin surged to 8.2% from 3.2%. Chairman Dan Wright said in the results statement: "Overall, 2024 has been a successful year of turnaround for the group following the appointment of a new executive team in the final quarter of 2023. This new team has been responsible for driving change and resetting the operating model of the business resulting in a performance of which we are ultimately proud but has proved challenging given the level of turnaround required." He added: "The group has continued to make significant strategic progress following a full business review completed in 2023 where the board remains confident that the business will return to growth from a stronger operating platform with improving operating margins and cash generation." Science in Sport said it had secured new distribution agreements in the Middle East and had expanded in the Australian market. 'Both regions will be important focus areas for international growth throughout 2025 and beyond,' the company said. It also supplies markets in Europe and the US. London-headquartered Science in Sport, set up in 1992, markets gels, powders and bars through supermarket chains, specialist sports retailers and online. The company, which also has tie-ups with professional sports teams, has a production facility in northern England. In 2023, BD-Capital made an investment in Netherlands-based food supplements company Bonusan. It also has gut-health food supplement provider Symprove in its portfolio. "Takeover target Science in Sport's revenue slides but net loss narrows" was originally created and published by Just Food, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
02-04-2025
- General
- Yahoo
Texas memorial honors 11 volunteer firefighters lost in the line of duty
AUSTIN (KXAN) — On Wednesday morning, the State Firefighters' and Fire Marshalls' Association of Texas (SFFMA) will host a memorial service to honor volunteer firefighters who have died in the line of duty. A release from SFFMA said the memorial service will be held at the Volunteer Firemen's Memorial monument on the south lawn of the Texas Capitol. The service will begin at 10:30 a.m. Wednesday. The release said that throughout legislative years, it has held memorial services like this one to pay respects to the fallen volunteer firefighters. This year, 11 fallen firefighters will be honored. 'This solemn service at the monument on the Capitol grounds is a beautiful way for us to pay our respects to volunteer firefighters lost in the line of duty,' SFFMA Executive Director Cherry Kay Abel said. Families, friends, brothers, and sisters of respective departments are welcomed to gather at the south lawn of the Texas Capitol. Bagpipe and drum corps will be in attendance, traditional bell ringing will occur, along with a few heartfelt words from the SFFMA board president and other members. Families of the fallen will receive a flag once flown over the Texas Capitol and roses. The following names of each of the 11 fallen volunteer firefighters will also be etched onto the Volunteer Firemen's Memorial monument. Dan Wright, Jr. – Abbott Volunteer Fire Department Nahit Oral – Community Volunteer Fire Department Joe Parrish – Diboll Volunteer Fire Department Zeb Smith – Fritch Volunteer Fire Department John Norris – Forest Bend Fire Department Richard Hempel – Groesbeck Volunteer Fire Department Evan Curtis Brown – Honey Grove Volunteer Fire Department Robert Lahar II – Maxwell Volunteer Fire Department Scott Glass – Perryton Fire Department Edward Hykel, Jr. – West Volunteer Fire Department Daniel Potts – Whitney Fire Department Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
