Shares in Applied Nutrition have jumped more than 10% today as the sports performance business upgraded growth expectations.
The London-listed group is forecasting a boost to trading in the new year as consumers make a post-Christmas switch to focus on health and fitness.
Applied Nutrition maintained market expectations for the 12 months to July 2026 when it posted its first set of full-year results to the London Stock Exchange in November.
However, in a surprise trading update this morning, the company said strong momentum had continued in its new financial year and as a result it expected to exceed current market consensus estimates (which stands at £122.3m in revenues and £34.4m EBITDA) by about 10%.
It followed a profits upgrade in August, driven by new listings, more shelf space and increased distribution in partners across the world.
Applied’s share price bulked up by 10.1% (at the time of writing) to 220p as investors reacted to the update. The stock is now up by 56% so far in 2025 and is much higher than the 140p-a-share IPO price when the business floated in October 2024.
Brokers Peel Hunt and Panmure Liberum today raised the target price for the stock, with the former pushing from 195p to 210p and the latter from 210p 230p.
Peel Hunt flagged potential for more upgrades to come from Applied Nutrition next year.
In November, Applied reported revenues rose by 24.2% to £107.1m in the 12 months to 31 July 2025, thanks to expanded distribution and strengthened relationships with existing retail customers, as well as launches of new products and formats.
At the time, Applied’s management highlighted Q1 trading in the new year was running at 45% sales growth against market expectations of 13%.
On the back of today’s update, Peel Hunt said it had now upgraded revenue forecasts by a further 4%, meaning 26% full-year growth and another 6% upgrade to pre-tax profit expectations to £37.8m.
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