Rapid Nutrition Issues First Half Year Trading Update
London, United Kingdom – 6 September 2022, 8 a.m. CET - Rapid Nutrition PLC (Euronext Growth: ALRPD, OTCQB: RPNRF), a natural healthcare company focused on wellness, diet management and life science products with established distribution, releases a trading update ahead of publishing its interim accounts.
We are pleased to report that we continue to track in line with our corporate expectations for 2022, with management successfully executing on its growth strategy as outlined in our latest annual report.
In particular, we recently signed a new distribution agreement in Korea, where we have successfully been approved for trademark registration for our flagship SystemLS brand. Likewise, we continue to expand this global brand with a focus on clean, plant-based ingredients and sustainable packaging, which will be launched later this year through a partnership with Australian packaging company Grounded.
We have also secured a financing commitment to support accelerated growth and completed the acquisition of The Plant-Based Bundle, a vegan influencer business which is already adding additional revenue and synergies to the group. We completed the first launch since acquiring the company in July with more than 144 world-renowned influencers, generating more than 3,494 sales in just the first 10 days. We are incredibly excited about the potential of this business as we prepare for our next launch in October.
We are also pleased to report that Rapid Nutrition is now debt-free after paying down all debt commitments during the first half of the year while diversifying revenue streams and expanding our product portfolio to significantly strengthen our position in the market. Our robust portfolio, strategic growth and partnerships are anticipated to continue to support revenue growth, new synergies and a strong position heading towards 2023.
As we move solidly into the second half of the year, momentum continues to build and we anticipate to achieve our targets as set out for the year 2022. In summary, 2022 has already been witness to significant achievements, notable management results and continued growth, which will create new tailwinds and opportunities for the company. Thank you to our shareholders, managers and partners who bolster this success.
We look forward to even more to come this year. For more information or to subscribe to company’s latest updates, please visit: www.rnplc.com
About Rapid Nutrition
Dedicated to the development and distribution of premium, science-based health and wellness brands across the globe, Rapid Nutrition shares a wealth of award-winning products with consumers who are passionate about innovations that are “made by nature, refined by science.” Rapid Nutrition’s first-class scientific team matches the experience of its management team to keep both the company and consumers on top of the latest industry trends and developments, while aligning with industry leaders worldwide to deliver effective supplements and solutions. Rapid Nutrition aims to be the supplier of choice globally by offering premium brands with the highest-quality ingredients to deliver maximum results.
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