Applied Nutrition Shares Surge on Upbeat FY26 Outlook

Shares of Applied Nutrition (LON: APN) are experiencing a rally, climbing over 5% following the release of a trading update anticipating that full-year 2026 results will surpass updated market consensus expectations.

The sports nutrition, health, and wellness brand announced a robust first half, fueling investor optimism.

The Group delivered a very strong performance in the first half of the financial year, generating revenue of £74.5 million, an increase of 57% on H1 FY25 (£47.6 million). EBITDA for the period was also ahead of management expectations.

The strong performance is attributed to successful channel diversification across UK high street health retailers, grocers, and discounters. The company successfully navigated the January peak Health, Fitness & Wellbeing period, with retail orders and customer stock levels significantly exceeding expectations. This, coupled with accelerated demand for new product launches, has resulted in a more H1-weighted revenue profile than in previous years.

Reflecting the strong first-half performance, the Group now anticipates that FY26 results will be ahead of updated market consensus expectations. Management currently expects full-year revenue of approximately £140 million, exceeding the previous consensus of £133.5 million. The adjusted EBITDA consensus was £37.7 million, and markets will be keen to see by how much this figure is exceeded.

The company's financial health appears robust, providing flexibility for future investments and strategic initiatives.

The company will announce its Interim Results for the six months ended 31 January 2026 on 23 March 2026.