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Share Name | Share Symbol | Market | Stock Type |
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Neutrahealth | NUT | London | Ordinary Share |
Open Price | Low Price | High Price | Close Price | Previous Close |
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6.50 | 6.50 |
Top Posts |
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Posted at 15/4/2008 10:38 by longshanks Price is currently in the doldrums but the recent trend looks quite positive. Worth bearing in mind, PhilAJ, that despite increasing profits 100%, being well supported by an Indian pharmaceuticals company with big plans, and having some high-profile backers [Sir Gulam Noon] - the price is still below par value of 10p. The company is acquiring nutraceutical companies in a fragmented market that is growing some 12% per annum. Risks are limited to whether NUT can grow effectively if their paper has such low value. However whilst this will remain way off the radar of many investors, because of its size, for a while yet, the growth prospects and potential takeover premium are enough to make me an investor. I tend to agree with shammytime that from a short and long term perspective this is a good asset to have in a portfolio. |
Posted at 10/4/2008 08:10 by shammytime "The benefits of size through greater impact in our industry sector andhigher investor profile mean that we are keen to transform the Group...with further significant acquisitions." "We continue to focus on our core business and on the best opportunities for expansion." In my last conversation with Ben, he said that the company is expected to be in a position to announce acquisition news within 2-3 weeks (that was on the friday after easter monday) Top up fellas, what a great opportunity! |
Posted at 08/4/2008 09:01 by shammytime I don't mean to upset you shanks but I'm so excited by this share.I should point out that I was an investor in NUT when it first listed a few years ago at 19p, so I do believe in the company. If it does reach 12p this week, the only way is up in my view. |
Posted at 08/4/2008 08:53 by longshanks lol. Those trades at 9.58p are all "buys".If it gets to 13p this week - you will sell and move on....so lets hope you get your wish just so as the rest of us "conservative" investors can regain some perspective again on this board. |
Posted at 08/4/2008 07:21 by shammytime Remember this, on the back of the March resultsINVESTORS CHRONICLE Company Results: * Buy International Personal Finance -- Financial Objects --Tanzanite -- NeutraHealth -- Omega |
Posted at 06/4/2008 11:21 by shammytime Fabulous write-up in the Telegraph today.Could easily see 10p+ tomorrow.. NeutraHealth 8.63p Questor says Buy Everyone wants to be healthy and its hard not to fret about whether we are getting enough of this or that vitamin. Hence the success of firms like NeutraHealth, which recently posted a near 150pc increase in turnover and rapid growth in profits. The company is one of the UK's leading distributors of vitamins and other over the counter supplements. With two successful acquisitions last year, and a pipeline of further deals likely, NeutraHealth is well placed for further growth. Some may dismiss such companies as snake oil salesmen but the market - already worth £2.5bn a year - is expected to boom in the years to come as the population ages and becomes more health conscious. Management have also built up credibility and attracted ingredients supplier Sir Gulam Noon as a non-exec director. It has also struck a deal with Indian pharma group Elder, which should provide lower cost manufacturing. NeutraHealth may be a tiddler with a small shareholder base, but its rating of 7.7 times 2009 earnings is undemanding and for investors with an eye on a healthy - and well funded - old age, the shares bear further examination. |
Posted at 26/7/2007 08:11 by homewell another piece of good news.-------------------- Neutrahealth Results& Strategic Investment RNS Number:8904A NeutraHealth Plc 26 July 2007 26 July 2007 NEUTRAHEALTH PLC ("the Company") ANNOUNCEMENT OF 2007 INTERIM RESULTS, 20% STRATEGIC INVESTMENT BY ELDER PHARMACEUTICALS AND APPOINTMENT OF DIRECTOR NeutraHealth plc, one of the leading consolidators in the vitamin and nutraceutical industry, today announces its interim results for the 6 months to 30th June 2007. The Company is also pleased to announce that the NeutraHealth Board is unanimously supporting an offer from Elder Pharmaceuticals Ltd, a public company listed on the Bombay Stock Exchange, to take a 20% strategic investment in NeutraHealth plc at 16p per share. Financial Highlights * Turnover increased by 126% to #9.8m (2006 interim: #4.3m) * EBITDA increased by 19% to #1.14m (2006 interim: #0.96m) * Adjusted diluted EPS increased by 10% to 0.4p (2006 interim: 0.4p) Operational Highlights * Seamless integration of Brunel into the group * Integration of the TravelGuard and Champneys operations into Brunel * 24 products launched under the Champneys agreement Strategic Investment by Elder Pharmaceuticals * Issue of 35,197,026 shares at 16p raising #5.3 million, net of costs * Proceeds will be used to fund future acquisitions * Opportunities for distribution and manufacturing between businesses Corporate Highlights * Acquisition of Brunel Healthcare in January 2007 for initial consideration of #4 million * Exclusive licensing agreement signed with Champneys Spa Group * Licensing agreement with Patrick Holford for launch of 20 co-branded products Michael Toxvaerd, NeutraHealth Chief Executive, commented: "We continue to deliver on our promises as a group. Brunel has proved to be a good acquisition and has fitted into the group very well. Our licensing agreements including the Patrick Holford agreement announced earlier in July provide us with brands with strong growth potential. I am delighted that Elder have recognised the value that has been created in NeutraHealth. Their investment will help us secure further acquisitions that may enhance earnings over and above the growth being created this year." For more information: NeutraHealth plc Martin Gatto, Chairman 07778 749 223 Michael Toxvaerd, Chief Executive 07730 581 584 Robin Hilton, Finance Director 07738 018 411 KBC Peel Hunt Matt Goode 020 7418 8900 Pelham Public Relations James Henderson 020 7743 6672 CHIEF EXECUTIVE'S STATEMENT The Group has had a good first six months to the year, significantly increasing turnover and achieving earnings growth. EBITDA rose by 19% to #1.14 million, which was a satisfactory performance given investment in new products, alliances and marketing. The Group has been very active on the corporate front. In January we announced an exclusive licensing agreement with Champneys which has led to the launch of a new health and beauty range of vitamins and supplements to be sold through major retail outlets under the Champney's name. This is an important development for the group enabling NeutraHealth to exploit the emerging trend of consumers paying attention to inner health to improve outward appearance. This announcement was followed by the acquisition of Brunel Healthcare Ltd ("Brunel"). Brunel is an established supplier of nutraceutical products and over the counter medicines sold by major retailers across the UK including Alliance Boots, Tesco, Holland & Barrett, Superdrug and Waitrose. The integration of Brunel has been very successful, causing little distraction to the business and allowing Brunel to progress key projects for growth. A three year supply agreement underpinning 20% of group revenue was signed in April 2007, and a range of CoQ10 products were launched in April also. Our assessment of Brunel's positioning in the over the counter medicines market has concluded that there are value adding opportunities through acquisition of companies and product licences in that market. NeutraHealth has extended it's strategy to encompass these opportunities as part of the "Investing in Wellbeing" strategy. The strength of Brunel's performance has led us to recognise the earn out liability for 2007 as a liability in these interim figures. In December last year the Group launched a suite of consumer products under the TravelGuard brand. This range has already achieved listings in multiple retailers and distribution across 1,100 outlets, and the Company continues to market these travel products over the busy summer travel season. We continue to believe in the long term potential of this product. The Champneys product range of supplements was well received at launch in March 2007, and negotiations are ongoing for a roll out of these products across major retailers in Q3 and Q4 this year. Outlook The second half of 2007 started well with the acquisition of Health Products for Life in early July at the same time as signing a licensing agreement with Patrick Holford, the world renowned nutrition expert to develop and launch a range of up to 20 co-branded BioCare / Patrick Holford products. The agreement also sees Patrick Holford take up a role as Head of Science and Education for BioCare. Health Products for Life is a direct to consumer website that will be developed further to provide a platform for mail order orientated products. The outlook for the year is good. Significant growth opportunities have been progressed over the last six months, requiring costs of approx. #0.3m. Management are confident in achieving significant EPS growth in 2007. NeutraHealth has positioned itself at the forefront of the self improvement and well being markets. These areas are amongst the fastest growing within the global healthcare market and the Group with its multi-faceted UK and International retail offerings is well positioned for strong future growth. Elder Pharmaceuticals Ltd Elder manufactures, distributes and markets a range of pharmaceutical products and brands. Elder has a focus on three therapeutic segments - women's health care, wound care and nutraceuticals. The full product portfolio extends to products for cardiology, diabetes, central nervous system health and antibiotics, all manufactured in a range of delivery formats including capsules and liquids. A number of products are market leaders in India, including: * Shelcal: a calcium supplement that helps protect against osteoporosis. It has a 30.5% market share, and generates 15% of annual revenue, * Chymoral: an anti-rheumatic enzyme that helps with wound care management. It has a 80.7% market share, generating 6% of annual revenue, * Eldervit: an injectable vitamin B12 product, with a 40.5% market share, generating over 3% of annual revenue. Elder's revenue for the year ending 31 March 2007 was INR4.66 billion (c. #56 million) with an EBITDA of INR0.89 billion (c. #11 million). The market capitalisation on 30 June 2007 was INR7.86 billion (c. #94 million), with 37.2% of the shares being held by the promoters of Elder. The largest other shareholders are ACRAF S.p.A (14.10%), Citicorp International Finance Corporation (9.32%) and CBC Bahrain - FII Equity Fund (5.08%). Elder is listed on the Bombay Stock Exchange Ltd with a Scrip ID of ELDERPHARM and a Scrip code of 532322 and on the National Stock Exchange of India Ltd, with Scrip ID ELDERPHARM. Further information is available from the Elder's website at www.elderindia.com Offer for Subscription On 25 July 2007, the Company accepted Elder's offer to subscribe for 35,197,026 Ordinary shares. NeutraHealth agreed, subject to its Directors' fiduciary duties, to send a notice to its Shareholders to convene the Extraordinary General Meeting on or before 31 August 2007 and to recommend that Shareholders vote in favour of the Resolutions. NeutraHealth agreed to give some limited warranties relating, inter alia, to its business in favour of Elder subject to agreed limitations of liability. The warranties lapse at the close of business on 25 July 2008. The subscription price of 16 pence per share represents a premium of 4.25 pence (36%) to the mid-market price of an Ordinary Share as at the close of business on 25 July 2007. Warrants Pursuant to the offer for subscription by Elder and subject to passing the Resolutions at the EGM, NeutraHealth shall enter into a Warrant Deed in favour of Elder. The Warrants will confer on Elder a right to subscribe for Ordinary Shares should any further shares be issued by NeutraHealth such that their shareholding remains as 20%. The price of any such subscription depends upon the circumstances of the issue of new shares and could be the market value of the shares at the relevant time, the value paid for shares by other investors or the value attributed to the Company's shares on any acquisition. The Warrants lapse in certain circumstances including lapsing automatically on the Maturity Date if not exercised on or before that date. Appointment of Director Pursuant to the Offer for Subscription, NeutraHealth has also conditionally agreed to appoint Mr Jagdish Kantisarup Saxena (67) as a Director of the Board. Mr Saxena has been the Managing Director of Elder since 1988, and is the founder and current Chairman. His career started as an officer in the Indian Air Force. He has 40 years experience within pharmaceuticals, having had responsibility in his career for all aspects of production, sales, marketing, and new product development. Present directorships Past directorships Elder Pharmaceuticals Limited Stiefel India PVT Ltd Elder Health Care Limited Elder Projects Limited Haw Par Elder (India) PVT Ltd Save as disclosed in this announcement, there are no further matters set out in Schedule 2 paragraph (g) of the AIM Rules which are required to be disclosed. Consolidated Income Statement Six months ended 30 June 2007 Unaudited Unaudited Audited 6 months 6 months 12 months 2007 2006 2006 #'000 #'000 #'000 REVENUE 9,786 4,320 8,571 Cost of sales (5,965) (2,024) (4,025) Gross profit 3,821 2,296 4,546 Administrative expenses (2,908) (1,548) (3,413) PROFIT FROM OPERATIONS 913 748 1,133 Investment revenues 24 31 70 Finance costs (283) (156) (301) PROFIT BEFORE TAX 654 623 902 Income tax expense (188) (154) (312) PROFIT FOR THE PERIOD 466 469 590 Earnings per share Basic 0.3p 0.4p 0.4p Diluted 0.3p 0.3p 0.4p Consolidated Statement of Equity Six months ended 30 June 2007 Share Other Retained Total capital reserves earnings #'000 #'000 #'000 #'000 At 1 January 2007 14,079 378 543 15,000 Profit for the year - - 466 466 Recognition of share based payments - 65 - 65 Cashflow hedges recognised - 22 - 22 At 30 June 2007 14,079 465 1,009 15,553 Consolidated Balance Sheet At 30 June 2007 Unaudited Unaudited Audited 30 June 30 June 31 December 2007 2006 2006 #'000 #'000 #'000 ASSETS Non-current assets Goodwill 18,449 15,623 15,649 Other intangible assets 1,519 86 109 Property, plant & equipment 1,212 510 522 Derivative financial instruments 22 - - Deferred tax assets 110 97 52 21,312 16,316 16,332 Current assets Inventories 3,099 669 852 Trade and other receivables 2,769 1,033 1,136 Cash and cash equivalents 1,223 1,878 1,172 7,091 3,580 3,160 Total assets 28,403 19,896 19,492 EQUITY AND LIABILITIES Capital and reserves Share capital 14,079 13,285 14,079 Other reserves 465 108 378 Retained earnings 1,009 422 543 Total equity attributable to equity holders 15,553 13,815 15,000 of the parent Non-current liabilities Bank loan 6,497 3,074 2,602 Obligations under finance leases 30 - - Deferred tax liabilities 222 57 74 6,749 3,131 2,676 Current liabilities Trade and other payables 4,553 1,769 758 Current tax liabilities 422 516 103 Obligations under finance leases 150 - 10 Bank overdrafts and loans 976 665 945 Total liabilities 6,101 2,950 1,816 Total equity and liabilities 28,403 19,896 19,492 Consolidated Cash Flow Statement Six months ended 30 June 2007 Unaudited Unaudited Audited 6 months 6 months 12 months 2007 2006 2006 #'000 #'000 #'000 OPERATING ACTIVITIES Cash receipts from customers 10,246 4,332 8,471 Cash paid to suppliers and employees (9,156) (3,695) (7,598) Cash generated from operations 1,090 637 873 Income taxes paid (21) - (531) Interest paid (43) (177) (302) Net cash from operating activities 1,026 460 40 INVESTING ACTIVITIES Interest received 24 31 66 Proceeds on disposal of available-for-sale investments - 5 6 Proceeds on disposal of property, plant & equipment - - 3 Purchases of property, plant & equipment (65) (156) (193) Payments for intangible assets (5) - (61) Acquisition of subsidiary (4,769) (542) (560) Net cash used in investing activities (4,815) (662) (739) FINANCING ACTIVITIES Repayment of borrowings - (200) (400) Repayment of obligations under finance leases (72) (9) New bank loans raised 3,912 - - Net cash from financing activities 3,840 (200) (409) Net (decrease) / increase in cash and cash equivalents 51 (402) (1,108) Cash and cash equivalents at the beginning of the period 1,172 2,280 2,280 Cash and cash equivalents at the end of the period 1,223 1,878 1,172 Notes to the Consolidated Financial Statements 1. Basis of preparation This report was approved by the Directors on 24 July 2007. The unaudited interim consolidated financial statements for the six months to 30 June 2007 have been prepared in accordance with International Financial Reporting Standards. The accounting policies applied in these interim financial statements are those that the group expects to apply in its annual financial statements for the year ended 31 December 2007. The same accounting policies and methods of computation are followed in this interim financial report as were published by the Company in its Report and Accounts 2006. A copy of this document is available on the Company's website at www.neutrahealthplc. The interim financial statements do not constitute statutory accounts of the group within the meaning of section 240 of the Companies Act 1985. Statutory accounts for the year ended 31 December 2006 have been filed with the Registrar of Companies. The auditors' report on those accounts was unqualified. The reconciliation of EBITDA before one off costs to Profit from Operation is as follows: Unaudited Unaudited 6 months 6 months 2007 2006 #'000 #'000 EBITDA 1,144 959 Amortisation of intangible assets acquired from subsidiaries (51) (2) Charge for share based payments (65) (60) Depreciation (115) (39) Aborted costs of acquisition - (11) Relocation and integration of acquisition - (99) Profit from Operations 913 748 2. Significant Accounting Policies The following are the major and / or new accounting policies of the Group. The financial statements for the year ended 31 December 2006 provide more complete details of the Group's accounting policies Basis of Consolidation The consolidated financial statements incorporate the financial statements of the Company and the entities controlled by the Company (its subsidiaries). Control is achieved where the Company has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities. The results of subsidiaries acquired during the year are included in the consolidated income statement from the effective date of acquisition. Where necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with those of other members of the group. All intra-group transactions, balances, income and expenses are eliminated on consolidation. Business Combinations The acquisition of subsidiaries is accounted for using the purchase method. The cost of the acquisition is measured at the aggregate of fair values, at the date of exchange, of assets given, liabilities incurred or assumed, and equity instruments issued by the Group in exchange for control of the acquiree, plus any costs directly attributable to the business combination. The acquiree's identifiable assets, liabilities and contingent liabilities that meet the conditions for recognition under IFRS 3 are recognised at their fair values at the acquisition date, except for non-current assets that are classified as held for sale in accordance with IFRS 5 Non-Current Assets Held for Sale and Discontinued Operations, which are recognised and measured at fair value less costs to sell. Goodwill arising on acquisition is recognised as an asset and initially measured at cost, being the excess of the cost of the business combination over the Group's interest in the net fair value of the identifiable assets, liabilities and contingent liabilities recognised. If, after reassessment, the Group's interest in the net fair value of the acquiree's identifiable assets, liabilities and contingent liabilities exceeds the cost of the business combination, the excess is recognised immediately in profit or loss. In the event that the acquisition includes conditional earn-out consideration, the Group recognises the liability for the earn out when it is considered likely that the necessary conditions are met. The liability is recorded at its fair value on the date of recognition. Other Intangible Assets Other Intangible fixed assets include trademarks, website costs and key customer relationships. Trademarks are stated at fair value less accumulated amortisation if acquired in a business combination or at purchase cost for subsequent additions. Trademarks are valued on an individual basis and amortised over their estimated useful lives of between 5 and 20 years. Website costs are stated at cost less accumulated amortisation. Amortisation is charged over the estimated useful life of 5 years and is included within administrative expenses Key customer relationships are stated at fair value less accumulated amortisation if acquired in a business combination. Key relationships are valued on an individual basis and amortised over their estimated useful lives of between 10 and 20 years. Derivatives and Hedge Accounting The Group uses derivative financial instruments ("derivatives") to hedge its exposure to interest rate fluctuations. The Group does not hold or issue derivatives for trading purposes. Derivatives are recognised initially at cost. Subsequent to initial recognition, derivatives are stated at fair value. The fair value of forward exchange contracts is their market value at the balance sheet date, being the present value of the future expected cashflows The gain or loss on re-measurement to fair value is recognised directly in equity, as is permissible for derivatives designated as a hedge of the variability in cash flows of a highly probable forecast transaction ("a hedging instrument"). 3. Revenue The whole of turnover is attributable to one principal activity of the Group, being the sale and distribution of nutraceutical products. For management purposes, all results are reported as part of this single activity. All turnover originates in the United Kingdom. A geographical analysis of turnover by destination is as follows: Unaudited Unaudited Audited 6 months 6 months 12 months 2007 2006 2006 #'000 #'000 #'000 United Kingdom 9,159 3,747 7,550 Europe (excluding UK) 545 453 822 Rest of world 82 120 199 9,786 4,320 8,571 4. Earnings per share Unaudited Unaudited Audited 6 months 6 months 12 months 2007 2006 2006 #'000 #'000 #'000 Earnings Earnings for the purposes of basic and diluted earning per share (profit for the period attributable to equity holders of the parent) 466 469 590 Added back to calculate Adjusted EPS - amortisation of separately identifiable intangible assets arising on acquisition 51 2 3 - charge for share based payments 65 60 124 Earnings for the purposes of Adjusted EPS 582 531 717 '000 '000 '000 Number of shares Weighted average number of ordinary shares for the purposes of basic earnings per share 140,788 132,852 135,483 Effect of dilutive potential ordinary shares: Final consideration for purchase of BioCare Ltd - 7,143 - Share options 609 2,421 2,175 Weighted average number of ordinary shares for the purposes of diluted earnings per share 141,397 142,416 137,658 5. Acquisition of Subsidiary On 23rd January 2007, the Group acquired 100% of the issued share capital of Brunel Healthcare Limited for initial consideration of #4.2 million including directly attributable costs. The transaction has been accounted for by the purchase method of accounting. The vendors of Brunel Healthcare Limited can increase the total consideration payable through an earn out, by attaining targeted increases in profit as follows: * For 2007, up to #0.8 million on attaining greater than 30% PBIT growth from 2006 levels; * For 2008, up to #1.1 million on attaining greater than 70% PBIT growth from 2006 levels; * The consideration is calculated pro-rata on performance, with 25% payable in shares at NeutraHealth's discretion; and * The earn out may be extended into 2009 with reduced consideration payable The net assets acquired in the transaction, and the goodwill arising, are as follows: Book Value Fair Value Fair Value Adjustments #'000 #'000 #'000 Net assets acquired: Property, plant and equipment 705 - 705 Intangible assets - 1,462 1,462 Inventories 1,989 - 1,989 Trade receivables 1,837 (20) 1,817 Other receivables 92 - 92 Cash at Bank 174 - 174 Trade payables (2,349) - (2,349) Other payables (608) - (608) Borrowings (741) - (741) Hire purchase liability (242) - (242) Deferred tax liability (151) - (151) 706 1,442 2,148 Goodwill 2,804 Total consideration 4,952 Satisfied by: Cash 4,000 Deferred consideration 750 Directly attributable costs 202 Net Cashflow arising on acquisition: Cash consideration paid (4,202) Borrowing acquired (741) Cash acquired 174 (4,769) This information is provided by RNS The company news service from the London Stock Exchange END |
Posted at 05/7/2007 08:06 by cockneyrebel Blimey - this is a lovely quiet thread - very good sign these are not in the glare of the general investors yet imo.Nice news today too. CR |
Posted at 30/5/2007 20:00 by howzat117 question from a newbie investor...why is there such a large spread on this stock? what does that 'mean'? thanks |
Posted at 28/5/2007 21:33 by waldiman As an ethical investor I cannot invest here, as I am allergic to nuts.LOL! |
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