The company said it expects to deliver first-half losses and cash flows in line with the groups expectations for the financial year ending March 2005.
It attributed its low sales revenues to delays in support activity for the Altu food bar caused by an extended IPO process, as well as a slower than expected building of distribution.
A spokesperson for the company said: “Despite delays in products launches due to the floatation, the Company are still on course to meet expectations for the full year.”
Nutrinnovator also announced it is developing a heart-healthy drink to be ready to launch in May 2005 in the UK, followed by distribution in the USA and Japan. It also noted that Boots has agreed to list the Altu brand from October this year.