Update - Meridian International Group (MIG)
10.12.2007 - As previously reported, MIG has obtained a significant reduced cost structure,
including an improved B/E turnover....
As previously reported, MIG has obtained a significant reduced cost structure,
including an improved B/E turnover. October and November figures are below
expectations and we thereby guide Q4 turnover to come in around 30% below Q3.
Results are however expected to reach Q3 level, with a smaller operational profit.
In Q1 2008 part of the cost reduction in MIG will be utilised to increase
incentives to distributors, to encourage increased sales. The aquisition of
MIG has been paid in full by Nutri Pharma, by the 6 mill. Nutri Pharma shares
which were transferred to the sellers of MIG in February 2006. No further
funding to MIG is expected from Nutri Pharma.
In January more details will be released related to the launch of Nutri5® in
Norway, which is scheduled to February 2008. Sales of Nutri5 will be through own
distribution, both through internet sales, www.nutri5.no, as well as through a
call center; tel: 05222. Nutri5® is a female health product which reduces and
alleviates menopausal and PMS symptoms, and which through 20 years of
clinical research have proven to also have other
important benefits as heart health.
Oslo, 10 December 2007.
For further info, call Trond Syvertsen, CEO: Tel +47 23310880
or Lars Helmer Enger, CFO: Tel +47 23310884