March 23 (Reuters) - Shares in Applied Nutrition plummeted in early Monday trade after the British supplements maker forecast "some" reduction in volumes in the Middle East due to the Iran conflict,
UK's Applied Nutrition shares plummet after warning of volume hit from Iran war
Applied Nutrition Faces Market Turbulence Amid Middle East Conflict
Share Price Reaction and Market Impact
March 23 (Reuters) - Shares in Applied Nutrition plummeted in early Monday trade after the British supplements maker forecast "some" reduction in volumes in the Middle East due to the Iran conflict, even as it kept its annual revenue outlook unchanged.
Disruption in Middle East Operations
"The group is cognisant of the current disruption to shipping routes and purchasing activities within the Middle East," the firm with shipping routes and operations in the Middle East said.
Stock Performance Details
Shares, which last as much as 18.6%, were down over 13% at 191.8 pence as of 0836 GMT.
Financial Outlook and Performance
Revenue and Volume Forecasts
The creatine and protein supplement maker kept its annual revenue outlook of 140 million pounds ($186.47 million)unchanged despite forecasting some reduction in volumes into the Middle East during the second half.
Profit Growth
For the first six months ended January 31, the firm posted an adjusted core profit of 21.5 million pounds, up nearly 56% from last year levels.
Currency Exchange Rate
($1 = 0.7508 pounds)
Reporting Credits
(Reporting by Prerna Bedi in Bengaluru; Editing by Nivedita Bhattacharjee)
