Rapid Nutrition PLC Announces 2016 Annual Results

With a focus on global expansion, sustainability and year-over-year growth, FY 2016 was a year of strategic change and considerable worldwide growth. Meeting consumer demand for organic healthcare products, Rapid Nutrition continues to position itself as a growing leader in the global marketplace.

PERFORMANCE HIGHLIGHTS

Financial results
While top-line revenue was down in the fiscal year due to a strategic and intentional change in the company business model, the board is pleased to announce that the bottom line is up 92% from last year, continuing Rapid Nutrition's growth and upward trend year over year.

Financial and Operational Highlights

- Group revenue was AUD$3.06m (FY2015: AUD$5.6m) due to a strategic and international change in the company business model. The enhanced business model translated to an increase in bottom line of up to 92% Year on Year;

- Profit before tax of AUD$2.2mm (FY2015: AUD$ 1.1m)

- Expansion of international distribution and retail network is key to growth and financial performance. As at 30 June 2016, the Company has access to 7,000 retail points (FY2015: 200) in all major regions around the world.

- InterGest China and Shanghai LSLI, representing brands known for their premium quality, as well as further extending its China footprint with the successful launch of its products through Woolworths global Tmall site, Taobao and multiple other well-established online stores.

- Extended SystemLS product lines across 576 of Woolworth Stores (FY2015: 12 stores) throughout Australia.

- Secured a distribution partnership with Sportika, one of the largest international distribution fulfillment facilities in the United States serving 140-plus countries. The partnership is expected to add significant revenue to Rapid Nutrition's core brands.

- Commenced development of a range of Certified Vegan Protein Formulas to be introduced to the market in 2017.

Access the full report here: Rapid Nutrition PLC Annual Report 2016

The Year in Review
Within the period, Rapid Nutrition changed from a licencing model to a distribution model to ensure long-term sustainability for the company's key brands. Furthermore, this evolution will allow the company to maintain a higher standard of quality control by overseeing the manufacturing process from start to finish within approved GMP manufacturing facilities. Likewise, this shift gives Rapid Nutrition a greater opportunity to expand its footprint and sales team in key markets, where it now has more than 40 sales experts representing its flagship brands in the United States alone.

In addition, the enhanced Rapid Nutrition business model allowed the company to secure multiple new distribution contracts in major markets as well as key partnerships, including Sportika (the largest international distribution fulfilment facility in the United States serving 140-plus countries). These partnerships will take the company to an entirely new level of growth in in the coming year.

"All in all, this was one of the company's most successful years in terms of growth in infrastructure, international partnerships and distribution contracts, and we are excited for even more growth in the year to come," said Rapid Nutrition Managing Director Simon St Ledger.

Corporate Direction
In terms of corporation direction, Rapid Nutrition expanded its leadership and sales team to further strengthen its high level of compliance and transparency for shareholders.

Moreover, the company delisted on the Frankfurt Stock Exchange in order to step forward onto a larger platform. While this has taken some time, the company is working diligently and tirelessly to complete this process as soon as possible, anticipating the value it will bring to shareholders.
"We wish to thank our valued shareholders for their continued support, and we look forward to sharing news on a confirmed date with our shareholders and the market in the near future," said Rapid Nutrition Managing Director Simon St Ledger.

The company's Annual General Meeting will be held on 19 December. For further details, please visit www.rnplc.com

About Rapid Nutrition:
Rapid Nutrition, a natural healthcare company focused on the research, development and production of a range of life science products. The company was established based on its successful and proven weight loss supplement range which is exported worldwide and now offers consumers a growing range of health and well-being solutions to meet existing and emerging societal health concerns, as well as a providing number of wider services to the life sciences industry. For more information, please visit http://www.rnplc.com/