Applied Nutrition has reiterated its full-year revenue guidance despite the current disruption to shipping routes in the Middle East.

In the six months to 31 January, the sports nutrition, health and wellness brand reported a 56.5% year-on-year increase in its revenue, totalling £74.5m.

Its adjusted profit before tax jumped by 53.7% to £20.9m, while its adjusted earnings increased by 55.8% to £21.5m.

The firm said these performance metrics landed ahead of management expectations, and its delivery was in line with multi-pillar, global growth strategy.

This includes building deepened relationships with existing customers, gaining new customer wins and channel expansion, which included its first out-licensing agreement with Morrisons. It has also expanded its footprint into key regions across Europe, Latin America and Asia, and has launched new products and formats.

Applied Nutrition stated that construction has commenced on its global distribution facility and head office, and phase three of its factory extension is set to increase its revenue capability to £300m.

The firm said in its outlook that the disruption to shipping routes is set to lead to some reduction in volumes into the region during the second half of its financial year.

However, with revenue being weighted more to H1 in the current financial year, Applied Nutrition expects to reach its full-year revenue expectations of £140m.

Following the half-year update, shares in Applied Nutrition fell by over 5%, following an increase of 71% in the last year.

Chief executive officer at Applied Nutrition, Thomas Ryder, said that the company’s vision to become the "world’s most trusted and innovative" sports nutrition, health and wellness brand remains at "the heart" of its ambition.

He concluded: "This six-month period has further highlighted both the breadth of opportunity before us and our proven ability to realise it. The performance and momentum across the business reflects a consumer environment that continues to shift decisively towards health, fitness and wellbeing.

"We have continued to execute against our strategic priorities in the period, with deeper engagement and expanded shelf space with existing customers, new customer wins and entry into new channels, continued international rollout into new geographies, while further progressing the build-out of our D2C offering.

"Since our IPO, we have seen an uplift in our profile, awareness, trust and credibility - exactly as we had envisaged, but even more impactful than we could have anticipated. This has enabled us to move faster and think bigger, with an innovation engine that is stronger than ever, allowing us to bring new products to market at pace, deepen customer relationships and adapt quickly to evolving consumer needs as we continue to build the business for the long term."

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