Shares in Applied Nutrition plummeted in early trade today 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.
"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.
Shares, which lost as much as 18.6%, were down over 13% at 191.8 pence in morning trade.
The creatine and protein supplement maker kept its annual revenue outlook of £140m unchanged despite forecasting some reduction in volumes into the Middle East during the second half of the year.
For the first six months ended January 31, the firm posted an adjusted core profit of £21.5m, up nearly 56% from last year levels.
