PracticeAuditChantrey Vellacott wins AIM sports audit

Chantrey Vellacott wins AIM sports audit

Newly-listed Science in Sport awards advisers its audit work

A HIGH-FLYING sports business has appointed Chantrey Vellacott DFK as its auditors.
Thames Valley-based Science in Sport (SiS), a nutrition company, has the auditors following a busy period for the company.

SiS listed on AIM in August following a demerger from AIM-listed Provexis. Chantrey Vellacott acted as reporting accountant and tax advisers during the demerger process and the listing, with the firm to continue to act for both parties.

Neil Tustian, partner at Chantrey Vellacott DFK, said the two companies were in a strong position to grow independently.

“Science in Sport is one of the most respected and well-known brands in sports nutrition and Provexis has enjoyed strong success through its Fruitflow business,” said Tustian.

“The separation of the businesses will enable both companies to focus on their core activities and grow independently of one another.”

Ian Ford, finance director at Windsor-based Provexis, said: “The demerger will allow Provexis and Science in Sport to pursue their strategic objectives independently with greater control over resources and opportunities, and it has provided the company’s existing shareholders with added flexibility in their investment decisions.”

Provexis has a market cap of £15.5m, and its share price is trading at 1.02p. SiS has a market cap of £13.7m and is trading at 70.5p per share.

Related Articles

EU Accounting Directive could damage UK economy, warns ICAEW

Accounting Standards EU Accounting Directive could damage UK economy, warns ICAEW

3y Chris Warmoll, Writer
Aero FD and Deloitte set for tribunal after FRC issue formal complaint

Accounting Firms Aero FD and Deloitte set for tribunal after FRC issue formal complaint

3y Chris Warmoll, Writer
Taking Stock: Will John Bason be tender with Compass audit contract?

Audit Taking Stock: Will John Bason be tender with Compass audit contract?

4y Taking Stock
Financial Power List 2013: Big hitters

Accounting Firms Financial Power List 2013: Big hitters

5y Accountancy Age, Reporters
Ex-CFOs dominate audit committee chair role

Audit Ex-CFOs dominate audit committee chair role

5y Richard Crump, Writer
PwC: RSA's problems limited to Irish operation

Audit PwC: RSA's problems limited to Irish operation

4y Kevin Reed, Writer
Ex-Cattles group FD stripped of licence at tribunal

Audit Ex-Cattles group FD stripped of licence at tribunal

5y Rachael Singh, Writer
Readers would change Power List 2013

Accounting Firms Readers would change Power List 2013

5y Calum Fuller, Reporter