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PureCircle Ltd. (DI) Buy 08-Oct-12 £21,350.00 Tan Boon Seng 10,000 @ 213.50p PureCircle Ltd. (DI) Buy 08-Oct-12 £19,350.00 Peter Lai Hock Meng 9,000 @ 215.00p
Completely random posting but i like the way you think. I too have been trying to quantify the rise from 165P in the space of a few weeks. The large Director buys (between 210-215p) suggests something very big is stirring - I am just not sure what. I dont think it is a t/o but the RNS will be significant and very soon. GL.
recent rise here and backed my very hefty director buying at the highher levels which is doubley interesting. Link to China makes it more interesting and i reckon a bid approach will come within the next 2 weeks.
PureCircle Ltd. (DI) Buy 02-Oct-12 £43,000.00 Mei ("May") Sian Tan 20,000 @ 215.00p
PureCircle Ltd. (DI) Buy 28-Sep-12 £100,800.00 Paul E Selway-Swift 48,000 @ 210.00p PureCircle Ltd. (DI) Buy 28-Sep-12 £31,500.00 Olivier Maes 15,000 @ 210.00p
Here she goes again! Next stop is 2.50 I guess, possibly 3.00 by Xmas time. Despite the frequent treeshakes, this one is a very good hold IMHO of course.
"Despite the volume increase, FY 2012 [fiscal 2012] sales levels remained sub-scale and did not reflect the strong growth in end market usage of high purity stevia. This is principally due to the continued impact of inventory at Beverage Global Key Accounts (BGKAs)," the company said. At $74m, inventories were $23m lower than at June 2011 and $40m lower than their peak at December 2010. Further reductions are expected as sales volumes increase before they stabilise at a consistent proportion of sales demand. "Our recent results have been impacted by the tough decisions we made in 2011 to slowdown Reb A production temporarily to better align inventories to current market demand. Results should improve as the evident growth in market usage of our products starts to translate into higher sales," Selway-Swift declared. "We remain confident of the future of our high purity stevia business but continue our guidance that this should be seen as a mid to long term opportunity," he added.
PureCircle, which produces sweetener products derived from stevia, saw sales dip and losses deepen last year as it moved away from a 'take or pay' contracted sales model. Sales in the year to the end of June eased to $45.41m from $52.26m the year before, with the company at pains to point out that last year's top line included $22m of committed 'take or pay' sales, where a customer either takes the product or pays the supplier a penalty. Sales which are not under a 'take or pay' arrangement have risen from $6m two years ago to $39m in the fiscal year just ended, the company pointed out. Some 85% of sales comprised demand that did not exist three years ago, Chairman Paul Selway-Swift noted. "This augurs well for future sales growth," he suggested. Loss before tax widened to $26.66m from $19.54m a year earlier. Net debt at the end of the reporting period had grown to $78.06m from $70.87m a year earlier. Total volumes of high purity stevia increased by 26% year-on-year. Volume increases were led by sales of the portfolio of proprietary new ingredients introduced over the past eighteen months (Alpha, SG95, Natural Flavor range), each of which increased by more than 100%.
In FY 2012 the Group's total cost base reduced by $3m despite supporting higher sales volumes and the Group's $1m share of sales and marketing investment in our EU Joint Ventures. Net cash from operations, before financing: The Group generated $4.5m of operating cash-flow before interest and financing, a $15m cash-flow improvement on prior year. Inventories: At $74m inventories are $23m lower than at June 2011 and $40m lower than their peak at December 2010. Further reductions are expected as sales volumes increase before they stabilise at a consistent proportion of sales demand. Cash and net debt: The Group ended FY2012 with gross cash of $24m, net debt of $78m and cash and facility headroom of $44m. Headroom was further boosted after the year end with the $31m proceeds of our Private Placement completed in August 2012. The Group is sufficiently funded for its current expansion plans.
Sales: In FY 2012 sales were $7.8m (15%) lower than FY 2011. This reflected FY 2012 being the first year in the Company's history with no pre committed "Take or Pay" contracted sales, which had totalled $22m in FY2011 ($29m in FY 2010 and $54m in FY 2009). Our non "Take or Pay" high purity sales have increased from $6m in FY2010 to $39m in FY 2012, with FY 2012 volume growth of 125% Sales volumes: In FY 2012 total volumes of high purity stevia increased by 26%. Volume increases were led by sales of the portfolio of proprietary new ingredients introduced over the past eighteen months (Alpha, SG95, Natural FlavorTM range), each of which increased by more than 100%. The Group has established a portfolio of ingredients and a well balanced mix of sales is anticipated going forward. Despite the volume increase, FY 2012 sales levels remained sub-scale and did not reflect the strong growth in end market usage of high purity stevia. This is principally due to the continued impact of inventory at Beverage Global Key Accounts (BGKAs). Gross profit: In FY2012 gross profit was $4.9m (11% of sales), an increase of $0.8m (19%) over FY2011, despite the lower sales revenues. The Group's variable contribution margin for high purity stevia revenues improved by ten percentage points over FY 2011, reflecting improved product mix and lower variable costs. Foreign exchange: In FY 2012 the Group incurred foreign exchange costs of $2.1m against gains in FY 2011 of $5.2m, a year on year profit impact of $7.3m. EBITDA: In FY 2012 the Group's EBITDA was a loss of $15.2m which was $5.3m higher than the loss of $9.9m reported in FY 2011, reflecting the foreign exchange noted earlier. Both years have been impacted by the exceptional costs relating to the temporary slowing down of Reb A production which was effected across CY 2011 so as to reduce Reb A inventory to levels better aligned with current market demand. Production of Reb A increased in early calendar 2012.
http://www.investegate.co.uk/Article.aspx?id=201209110700049304L
the wife uses Stevia now, and approves so thats all right then! on and up thanks Purecircle Johnny22
just doubled my money since 07/11 ..more to come
Wang Tak have got a lot of confidence in this one, accepting a placement at 200p when the current sp is 187p! Tell me waht that is if it's not confidence in the company. http://www.investegate.co.uk/Article.aspx?id=201208010700110102J
yes its about time the spread reduced it now encourages additional value investment. The price should really start to move now. (like the guy on the latest gas advert in his van)
The spread is getting tighter 177 - 180, a very rare sight here! Who knows where the next stop is. Holding on tight for some sweet success here.
Margins in the second half of fiscal 2012 are expected to be similar to those seen in the first half. Helped by sales being at least double what they were in the first half of the year, losses in the second half are expected to be lower than in the six months to the end of December 2011. The doubling of sales volumes has upped the working capital requirements and as a result net debt has increased, though is still below $80m. The group's funding headroom at the end of June was estimated at $44m or more. "Looking forward, we are comfortable with market consensus for sales levels in FY 2013 [fiscal 2013],2 revealed PureCircle's Chief Executive Officer, Magomet Malsagov. Market consensus is for sales of £52.1m and a profit before tax of £2.77m in fiscal 2013. "Our guidance for high levels of sales remains mid-to-long term based and until then there will continue to be some volatility in our results," Malsagov admitted.
PureCircle, which makes sweeteners based on the stevia herb, left a sour taste in investors' mouths on Monday as it admitted sales in the second half of its financial year had been below expectations. Sales in the six months to the end of June are expected to be around $30m, which would push full year sales up to not less than $45m. The group said the disappointing sales number is partly due to the delay in a number of projects now slated for launch in the current financial year, and partly due to the end of the legacy "Take or Pay" volumes and lower sales of co-products, which reflects PureCircle's decision to slow down Reb A production in 2011 to prevent stocks building up too quickly. The fiscal year just ended was the first year since the beginning of the company's sales history that its sales have not included any contractually pre-committed or "Take or Pay" volumes. The group estimates that almost $40m, or around 85% of sales this year, are represented by customer orders and contracts that did not exist three years ago. "This provides a good indication of the diversification of our customer base that has been achieved since FY 2009 [fiscal 2009]," the group statement claimed.
Commenting on the 2H FY 2012 trading update, PureCircle CEO Magomet Malsagov said "Although our FY 2012 sales have been lower than expected due to the delay of a number of projects into FY 2013 and the continued winding down of Beverage Global Key Account inventories; the company still managed to increase year-on-year volumes of High Purity Stevia and Natural Flavors by more than 20%. The underlying usage of high purity stevia continues to grow strongly after the opening of the EU market. The important carbonated soft drink category is beginning to adapt high purity stevia in global mega brands. We have diversified our product portfolio and grown our customer base substantially and each month we get closer to the point where the real size of the market we are building will be evident in our reported sales. Together with our partners we have grown our presence globally to better manage our constantly increasing international customer base. Through our introduction of innovative products we have successfully eliminated the Company's dependence on one product. Through our direct to market sales strategy we have increased our base of regular customers and repeat sales, with FY 12 being the first time in our history not to include any "Take or Pay" volumes. Going forward this will reduce our sales volatility caused by historic "lumpy" one off sales volumes. Our innovative product portfolio and scaled supply chain are ready and proven, the measures we are taking to reduce inventories and improve cashflow are fully on track and we have sufficient headroom on our treasury facilities. Looking forward, we are comfortable with market consensus for sales levels in FY 2013. More detailed guidance for FY 2013 and FY 2014 will be provided in September with our FY 2012 results announcement. Our guidance for high levels of sales remains mid-to-long term based and until then there will continue to be some volatility in our results."
Margins The Group expects 2H FY 2012 variable margins to be in line with those reported in 1H FY 2012. With sales at double 1H levels, 2H losses will be lower than 1H FY 2012. Cashflow and net debt During 2H FY 2012 the Group has continued to reduce inventories. However with increased receivables due to the doubling of sales volumes, working capital is expected to be higher than at 31 December 2011, resulting in net debt increasing to not more than $80m. The Group funding headroom at the end of FY 2012 is expected to be not less than $44m.
PureCircle (LSE: PURE) the world's largest producer and marketer of high purity stevia today provides a pre close period update in respect of its second half to 30 June 2012 (2H FY 2012). The Company's results statement for the full year FY 2012 will be announced on Thursday 27th September 2012. Sales In 2H FY2012 sales are expected to be $30m giving not less than $45m for the full year FY 2012. Whilst 2H sales are double those of 1H FY 2012 they are lower than we wished partly due to the delay in a number of projects now slated for launch in FY 2013; and partly due to the end of the legacy "Take or Pay" volumes and lower sales of Co-products, which reflects the Company's decision to slow down Reb A production in CY 2011 to better align inventories. Overall high purity stevia volumes increased by more than 20% year-on-year. Within FY 2012 there has been triple digit growth in volumes of proprietary products, including our Natural Flavor TM range and new Natural Sweeteners range. These new products are rapidly winning market share for us and their variable contribution margin percentages are strong. Going forward we believe the improved mix of products will generate large volumes and a much improved base business with better production capacity utilisation. FY 2012 has seen strong growth in the usage of high purity stevia, boosted by the opening of the important EU market in December 2011 and the reformulations of Sprite, Fanta, Lipton and Nestea being examples of global brands adopting stevia. However, as expected, the growth in usage has not yet fully translated into growth in sales for PureCircle, due to the continued wind-down in Beverage Global Key Account inventories. FY 2012 was the first year since the beginning of the company's sales history that our sales have not included any contractually pre-committed or "Take or Pay" volumes. We estimate that almost $40m (85%) of sales this year are represented by customer orders and contracts that did not exist three years ago. This provides a good indication of the diversification of our customer base that has been achieved since FY 2009. Further it provides a strong base for sales growth when coupled with Beverage Global Key Account future demand for product, once their inventories are run-down. FY 2012 was also the first year of in-market sales by our Joint Venture companies which provide a good base for future growth in each of their regions.
http://www.investegate.co.uk/Article.aspx?id=201207090700071712H
The rise was too fast, this one will come good in the right time IMHO. Reading from the last RNS, 2013 and 2014 there is gonna be fireworks. So I would not worry too much if this drops occassionally as profit takers depart. It's probably going to be doing this yoyo-ing business for most of this year, then come 2013, I would not be surprised if we go back to £3, all IMHO of course DYOR ... blah bla blah
profit takers upsetting the trend, still one for the pot johnny22
Crazy spread !!! Bid: 160.00 Ask: 174.00 With an SP of 167P this is encouraging investors to do simply nothing, hence very low volumes.