Applied Nutrition (LSE:APN) delivered a robust performance in the first half of its 2026 financial year, with revenue climbing 57% year-on-year to £74.5 million. EBITDA came in ahead of internal expectations, reflecting both operational leverage and strong trading momentum.
Growth was fuelled by expanded distribution across UK high street health retailers, supermarket chains and discount outlets, broadening the company’s domestic footprint. At the same time, newly launched products generated strong consumer demand, prompting higher retail replenishment orders and increased stock holdings among customers.
Buoyed by the first-half outperformance, the group has upgraded its full-year outlook and now anticipates FY2026 revenue of approximately £140 million, ahead of prevailing market forecasts. Management also noted that sales will be more front-loaded than in prior years, highlighting how wider distribution reach and product innovation are reshaping seasonal revenue patterns. Interim results are scheduled for release on 23 March.
From an investment standpoint, the company’s trajectory is underpinned by rapid top-line expansion, solid profitability, low leverage and healthy free cash flow generation. Technical indicators continue to support the upward trend, although overbought signals suggest potential near-term volatility. Valuation remains a consideration, with the shares trading on an earnings multiple of around 30x and no disclosed dividend yield to offset growth risk.
More about Applied Nutrition PLC
Applied Nutrition plc is a UK-based sports nutrition and wellness company developing and manufacturing more than 120 products for athletes, fitness enthusiasts and health-focused consumers. Operating predominantly through a global B2B distribution model, the company markets four principal brands — Applied Nutrition, ABE, BodyFuel and Endurance — across over 85 international markets.
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