Nice mention in the SUnday Telegraph today.

NeutraHealth

The dietary supplements sector is growing in popularity as consumers become more health conscious; half the population is estim-ated to take vitamin supplements.

Neutra-Health (11.5p) listed on Aim in February last year as a shell company with the intention of acquiring manufacturers in the dietary supplements industry. The company has already made two acquisitions since its February 2005 flotation and is believed to be talking to potential targets about another deal in the coming months.

Acquisitions to date are BioCare, a -Birmingham-based manufacturer and distributor of natural health products, and Nutrigold, a company that makes products such as the "detox in a box" health treatment.

Neutra-Health's sales are expected to grow from 2.4m last calendar year to 9.3m this year, and profit is expected to grow from 400,000 to 1.6m. The nutraceuticals sector is growing by 10 to 15 per cent a year. Impetus will be added by an aging population - which is more likely to take supplements - and EU laws that make it harder for small companies to compete, meaning that consolidation is inevitable. The company will launch branded travel products into the retail market later this year and has just launched a transactional website for BioCare.

It also has a strong board - non-executive directors include Sir Gulam Noon, the curry entrepreneur, and Martin Gatto, a former finance director of Somerfield, the supermarket group. Buy.

Bear in mind the market capitalisation is a mere 16.65million and estimated turnover 9million - looks good.

A bit of price action perhaps? Golden cross on the chart between shorterm and longer term rising charts would be another positive signal.

Forgetting charts and all that science for a minute, I still think that if profit forecasts of between 1.4-1.6million are met, a valuation on fundamental grounds might be around 30 million (p/e ~20), indicating a share price quite a bit higher than where we are at the moment.

Interim Results

2006 INTERIM RESULTS STATEMENT
NeutraHealth Plc, which was admitted to trading on AIM in February 2005 to acquire
companies in the nutraceutical industry, today announces its interim results for the six
months to 30 June 2006.
The Company has had a successful first half of the year, with results in line with our
expectations. Following the cornerstone acquisition of BioCare in 2005, the Company made a
bolt-on acquisition of Nutrigold in February 2006. These two companies are fully integrated
into the NeutraHealth group, and a strong platform for sustainable growth is in place.
The Company is confident that initiatives put in place during the last six months will deliver
further growth through the second half of the year while the Company continues to
strengthen relationships with acquisition targets.
Financial Highlights
Total turnover 4.3m
BioCare sales growth from 2nd Half 2005 9%
EBITDA * 1.0m
Cash Reserves 1.9m
No trading comparatives are presented above as the groups trading activity started in August
2005 with the acquisition of BioCare Limited.
* EBITDA excluding share options charge and one off costs of 11,000 incurred on aborted
acquisitions, and 99,000 incurred in relocating and integrating Nutrigold into the existing
group.
Operational Highlights
Acquisition of Nutrigold in February 2006 followed by successful integration of
operations into existing facilities
Launch of BioCare transactional website in April 2006 with 85% of direct consumer
orders being new customers
10 new products launched since December
Significant interest in BioCare range and Nutrigold Detox products in 15 overseas
markets
Appointment of 12 nutritionists nationwide to complement the BioCare customer
development team
BioCare
BioCare has had a strong six months after being acquired by NeutraHealth last year. Since the
appointment of James McEuen as Managing Director in November 2005, he has successfully
implemented many initiatives that have combined to deliver sales growth of 9% for the last
six months, compared with the period from July to December 2005. This growth in sales is
expected to continue over the next six months as the improvements to the business take full
effect.
Exports
BioCare has always had a strong reputation as a leading brand in the practitioner channel in
the UK. The potential to become a leading European brand focussing on practitioners was
identified as a key opportunity at the time of acquisition. The company has made progress in
developing the European market with exports increasing over 100% year on year
predominately through business with existing overseas distributors, but also through a
number of new relationships.
UK Customer Development
A UK Customer Development department has been created, and 12 trained nutritionists have
been appointed to provide a nationwide network of sales ambassadors and company
advocates to other practitioners and health food stores. These ambassadors will play a crucial
role in educating customers about the BioCare range, and initial feedback has been very
encouraging.
Website
BioCare launched its retail website in April 2006 and has had an encouraging response with
85% of all direct consumer orders received so far being placed by new Biocare customers.
The internet already accounts for over 4% of monthly revenue, allowing the business to serve
an increasing customer base without increasing the number of sales order staff.
Product Launches
A number of exciting new products have been launched in the last six months. These have
included advanced product formulations, and also developments that have focused on
delivery of the product. For instance our biggest selling probiotic product Bio-Acidophilus has
just been launched both in straws and as a powder with the emphasis on expanding our
share of the market for child friendly probiotics.
The launch of our innovative lifestyle range is now expected in Autumn this year. We
suspended our launch while NeutraHealth pursued retail brand acquisition targets. The
deferment of our original plans is expected to cause less than 2% reduction in anticipated
growth this year. Following withdrawal from the acquisition processes, we resumed
development of a new brand, which is now complete. Discussions with major high street
retailers are ongoing and progressing well.
Our product launches so far this year include:
OmegaBerry A new fatty acid providing omega 3 fatty acids from fish, flavoured with
natural berries that makes the product more tasty and attractive to
children
Omega Oils A new fatty acid providing a full range of omega 3, 6 & 9 fatty acids
from linseed, olive, evening primrose & sesame oils, rather than fish
oils. It can be used as an alternative salad dressing
VascularGuard Carefully selected antioxidants to help support the healthy function of
the cardiovascular system
VitaCell An antioxidant supplement to help protect the skin against excessive
exposure to the sun
Salvesterol A plant extract that is the vital ingredient behind the advice to consume
five portions of fruit & vegetables each day
Sterolvite Plant extracts to help maintain healthy cholesterol levels
MindLinx A synergistic combination of l-glutamine & special probiotics supporting
the gut-brain connection
Our product development pipeline remains sound with several more launches planned for
2006.
Sage Organic
BioCare has recently become sole distributor for the Sage Organic product range. Sage has a
unique range of food supplements including Health Man, Healthy Woman and Menopause dual
packs (combinations of multivitamins and herbal remedies) that are stocked in selected Boots
and Waitrose stores in the UK.
Nutrigold
Nutrigold was acquired in February this year for 500,000 (with an earn out potential of up to
a further 300,000). This was identified as a complementary bolt-on acquisition with the
opportunity to realise synergies through co-locating order fulfilment and administrative
functions.
Nutrigold has now been fully integrated into NeutraHealths facilities in Birmingham and
despite this period of change the company has continued to perform to our expectations,
delivering sales of 335,000 in the first four months. The operational synergies are being
achieved, and Nutrigold management activity is now firmly focussed on driving sales.
We are experiencing an increasing interest in the Nutrigold products. In particular the
Amanda Hamilton/Nutrigold Detox range is receiving a lot of interest from UK customers and
overseas distributors.
Outlook
NeutraHealth remains committed to making acquisitions that will deliver value to
shareholders. In the first half of 2006 this resulted in the acquisition of Nutrigold as well as
abortive fees from withdrawing from acquisition processes that failed to meet our value
criteria.
In the second half of the year the Board will continue to work on building relationships and
assessing potential acquisitions that will help deliver the Companys strategic aims while the
group continues to deliver strong organic growth through existing and new brands.
Michael Toxvaerd, NeutraHealth Chief Executive, commented:
We are pleased with the group performance for the first half of the year. Strong profitable
sales growth has been achieved quickly after acquisition. We expect initiatives launched
during the first half of the year to have a significant impact during the second half of the year
as well.
Cashflow generation from operations remains good, and growth in earnings meets our
expectations for this period. We are looking forward to further success this year with our
existing businesses as we continue to assess acquisition opportunities.
For more information:
NeutraHealth plc
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
Gavin Davis 020 7743 6677

Profits at interim stage on target at 1million and sales growth looks good.

Directors are bought in to success of the company with share options granted. Recent drop after "in line" trading statement seems like a buying opportunity.

Its been a while in coming, but this health supplement supplier looks to have some good businesses together and the share price has made a break out to the upside this morning.

Patrick Holford, leading nutrition commentator/author has teamed up with Biocare(NUT). In footballing terms it's like signing the Thierry Henry of the vitamin world!!!

He is developing an extensive range of vitamin supplements which should propel this little company up the league of nutritional supplement suppliers.
Check out www.biocare.co.uk

Directors have bought shares in past fortnight.

All looks good for growth.

Director bought 1,000,000 shares, about 120,000 investment last week.

http://www.neutrahealthplc.com/

16 October 2007


NEUTRAHEALTH PLC ('the Company')

CHANGES TO BRUNEL EARN OUT & ISSUE OF SHARE OPTIONS


NeutraHealth is pleased to announce changes to the earn out agreement for the
vendors of Brunel Healthcare Limited ('Brunel'), and the issue of share options
to Mr Ron Stagg, Managing Director and co-founder of Brunel and a Director of
NeutraHealth.

Brunel Healthcare Earn Out

NeutraHealth acquired Brunel in January 2007 for initial consideration of 4
million. Brunel distributes private label and branded vitamins & supplements,
and over the counter ('OTC') medicines to major national retailers. Branded
products, including the Vertese range of gelatin free supplements, are
distributed through Alliance Boots, Tesco, Holland & Barrett, Superdrug,
Waitrose and others.

At the time of acquisition, an agreement with the vendors was put in place for
an additional 1.9 million of further cash consideration to be paid on attaining
growth in PBIT through to December 2008. The performance of Brunel to date has
exceeded initial expectations and the Brunel team, especially Mr Ron Stagg, has
made a significant contribution to the overall Group. As a result, the earn out
agreement has been amended as follows:

If 2008 performance conditions are met by 31 December 2007, which is
expected, a total earn out consideration of 1.5 million will become
guaranteed; and

The maximum total earn out consideration available will be reduced
from 1.9 million to 1.5 million.

If the performance conditions are attained, the original timing of payments will
be unchanged with 0.8 million and 0.7 million being paid in March 2008 and
March 2009 respectively.

Making the change reduces the maximum future earn out liability of NeutraHealth
by 0.4 million, and helps NeutraHealth progress strategic initiatives more
quickly, benefiting from the Brunel team's greater involvement across the whole
Group.

Share options

As Mr Stagg is now playing a greater role in the overall development of the
Group, rather than just taking responsibility for Brunel, he has been granted
performance related options over 2,500,000 Ordinary Shares of 10p each in the
Company ('Ordinary Shares').

All of the options granted were issued at the market price at market close on 12
October 2007 of 12.5p. The options are exercisable in whole or in part two years
after being granted and are subject to a minimum market value of 20p for the 10
consecutive business days prior to the date of any exercise. The options will
lapse if not exercised within ten years of the date of grant. The grant was made
on 15 October 2007.

Following the grant of options, Mr Stagg now has options over 2,500,000 Ordinary
Shares, and is interested in 1,000,000 Ordinary Shares, representing 0.6 per
cent. of the Ordinary Share capital of the Company, all of which are held
beneficially

Following the grant of options, the aggregate number of Ordinary Shares under
option pursuant to any Company option scheme is within the limit described
further in the admission document relating to the re-admission of NeutraHealth
to AIM on 31 August 2005 following completion of the acquisition of BioCare
Limited. The total number of options over Ordinary Shares which have been
granted pursuant to the Company's option schemes is 27,369,582 and the number of
new shares issuable pursuant to such options represents 15.6% of the Company's
issued Ordinary Share capital. These include options over 4,213,500 Ordinary
shares representing 2.4% of the Company's issued Ordinary Share capital which
are exempt from the limits described in the admission document referred to
above.

Michael Toxvaerd, NeutraHealth Chief Executive, commented:

'The performance of Brunel has exceeded expectations since its acquisition by
NeutraHealth, and this is a very positive step forward. Mr Stagg is increasingly
contributing to the Group's strategic development, and the grant of share
options aligns his interests with those of shareholders as NeutraHealth focuses
on delivering continued growth in sustainable earnings.'


For more information:

Further information for investors is available on the Company's website at

www.neutrahealthplc.com/



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 (Nominated Adviser and Broker)
Matt Goode 020 7418 8900

Pelham Public Relations
James Henderson 020 7743 6672
Gavin Davis 020 7743 6677


Notes:

NeutraHealth was floated on AIM in February 2005 with the strategy of
consolidating the fragmented Vitamins, Minerals and Supplements sector of the
growing nutraceutical market. The company is focused on building a group of
companies within the nutraceutical market which will deliver growth through
organic expansion and through strategic acquisitions.

The company made its first acquisition, BioCare, in August 2005 for 16.1m.
Since then it has delivered the following:

February 2006

Second acquisition (0.5m) of Nutrigold, a producer of nutraceutical
products and services for the practitioner market. The founder, Andy Wren,
has remained as managing director with an earn out incentive up to 0.3m

December 2006

Agreement reached with Boots the Chemist plc, Waitrose, Harrods,
Selfridges, Holland & Barrett, and The Nutri Centre (51% owned by Tesco) to
stock the TravelGuard range, NeutraHealth's first retail brand.

January 2007

Signing of an exclusive licensing agreement with the Champneys Spa Group to
develop a new health and beauty range of vitamins and supplements sold
through major retail outlets under the Champneys name.

January 2007

Third acquisition (4.0m) Brunel Healthcare Limited, an established
supplier of nutraceutical products and over the counter medicines sold by
major retailers across the UK.

April 2007

Signed three year agreement with the UK's leading high street retailer of
vitamins, minerals and supplements to continue to supply products under
private label until at least August 2010, contractually underpinning 20%
of current group sales

July 2007

Fourth acquisition (0.4m) Health Products for Life, a direct to consumer
website

Signing of licensing agreement with leading nutrition expert Patrick
Holford

August 2007

Net 5.3 million investment in 20% of NeutraHealth by Elder Pharmaceuticals
Limited of India through issue of shares at 16p

Investment made at a 36% premium to mid-market price on day of announcement

Funds raised for future acquisitions, and opportunities for distribution
and manufacturing between businesses

Some nice upward price action. Still undervalued though. Biocare is a fantastic business.
Pe ratio extremely modest at present given growth potential.

How does this Look Good? - the sp has halved over the last year . . . in line with Markets generally I might agree, but I thought their sales were increasing....so that would even things out?

Do you have a handle on the Debt position? I understand they bought the Bristol business for Cash and shares......what's the story about Debt?
((These markets hate debt, because the Interest% is not certain and concern Banks could call-in.))

EDIT:17June08...Ah so they are selling one half and buying another - to focus on one aspect alone. This is a good plan for a small business - know your customers, etc. yet the mention supermarkets as existing customers (of the purchase) - yet we know they have great power and squeeze suppliers. . .. . . these are dark days and raising money is still an issue......unless you know different.