New Covent Garden soup manufacturer S Daniels has warned of losses of £1.3m for 2001, but claimed the business was now back on track. The company said in October that foodservice, which accounts for two thirds of its business, would fall well below recent expectations. Chairman Cyril Freedman said the company had been hit by the market downturn after September 11 and a £500,000 redundancy programme, but expected to return to profit this year. Daniels is due to announce its preliminary results for 2001 on February 22. {{NEWS }}