Follow both new and existing institutional investors and invest in endurance sports nutrition specialist Science in Sport (SIS:AIM).

An oversubscribed placing (14 Nov) has raised a handy £14m for ‘SiS’, an increasingly strong brand among elite athletes, whose high gross margins and rapid gains in a growing global sports nutrition market could soon attract a predator.

Existing shareholders also have the chance to buy shares at 70p in an open offer, potentially raising another £1m for the company.

Broker Cenkos Securities says ‘this potentially represents the final funding round before SiS is cash flow positive’.

The new cash will be used to accelerate SiS’ online and overseas sales growth, with a focus on supporting online distribution in the vast US sports nutrition and significant Italian sports nutrition markets.

Excitingly, the funds will build further brand awareness in football, where SiS’ energy powders and isotonic gels have quickly become firm favourites with elite-level players.

In a conversation with Shares, chief executive Stephen Moon stressed the core UK and EU business broke even in the first half of the year, on sales up 28% to £8.3m, and is on track to be profitable at the EBITDA (earnings before interest, tax, depreciation and amortisation) level for the full year.

For calendar 2017, Cenkos forecasts £15.2m revenue (2016: £12.2m), rising to £25.8m two years later in 2019.

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