Applied Nutrition shares bulk up as protein group flexes bumper profits
Applied Nutrition shares rose sharply on Tuesday after the protein powder and supplements firm upgraded annual profit guidance.
The sports nutrition group, which listed on the London Stock Exchange in October last year, told investors a ‘strong’ second half performance has put revenues on track to rise by nearly a quarter to £107million this year.
Revenue had been previously guided at £100million for the year, meaning the refreshed numbers are 7 per cent ahead of projections.
Buoyed by higher sales and profits, the company said its 2025 results look set to come in ‘ahead of market expectations’.
Adjusted earnings before nasties are expected to rise 19 per cent year-on-year to £30.94million, while Applied Nutrition forecasts a net cash position of around £18.5million for the period.
Founder and chief executive Tom 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.’
Upbeat: Thomas Ryder created Applied Nutrition in 2014 and has a real rags-to-riches story
Applied Nutrition, which is a traditional bricks-and-mortar wholesale business, currently boasts among the strongest profit margins in the health and beauty sector.
The group has been able to withstand record high whey prices and the impact of US tariffs by effectively managing costs and passing on higher prices to consumers.
A report by retail research group Kantar found that sales of sports nutrition products surged by 45 per cent in the first five months of this year compared with the same period in 2024.
They were the ‘biggest winners’ as customers shaped their diets around lifestyle choices ‘with health, wellbeing and exercise apparently top of many people’s minds’, Kantar said.
The Liverpool-based business, which has collaborated with Coleen Rooney, also expects bumper results for the financial year ending 31 July 2026.
Applied Nutrition said: ‘The board remains confident that the Group’s core strengths, including its B2B-focused business model, breadth of high-quality products and industry leading new product development, will continue to drive sustained revenue growth and strong profitability over the long-term.’
Applied Nutrition shares jumped 9.38 per cent or 12.30p to 143.50p, having risen around 12 per cent in the past month.
Ryder said: ‘We are proud to report that we have exceeded the guidance we gave at our IPO, with our first full-year results expected to come in ahead of market expectations.’
Bumper IPO windfall for founder
Applied Nutrition, which is backed by JD Sports, initially raised £157.5million from its 2024 IPO at a price of 140p per share, valuing it at £350million. It is currently valued at approximately £320million.
Ryder netted £67million when shares in Applied Nutrition were listed last year.
Raised by his grandparents on a Kirkby council estate following his father’s death, Ryder opened his first store, Body Fuel, when he was 18, selling muscle-bulking protein powder, creatine and other supplements while working as a scaffolder for the local council.
After six years juggling two jobs, Ryder created Applied Nutrition in 2014 and began working from a small factory in nearby Knowsley.
The group, which operates primarily business-to-business, sells products in more than 85 countries under four ranges – Applied Nutrition, ABE, BodyFuel, and Endurance.
The business will release its official results for the year ended 31 July 2025 on 10 November.
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