PURE.L Share News (PURE)

PureCircle, the stevia sweetener producer and marketer, swung to an operating profit in its first half, helped by a strong growth in sales across all regions.Operating profit totalled $2.9m in the six months to December 31st, compared with a loss of $2.9m the year before, on sales that surged by 32% to $34.9m. Total sales volumes rose 31%.The firm reported a statutory loss before tax of $2.4m, down from $7.2m previously. Sales of high purity ingredients grew by 37% during the period, which PureCircle said was driven by innovations in its stevia portfolio of all-natural, no-calorie sweetener and natural flavour systems. The firm said that the proportion of total sales derived from lower-value co-products again reduced from 6% to 5% year-on-year.Chief Executive Magomet Malsagov said the company is confident of "sustainable future sales growth and with it future improvements in profitability", helped by roll-outs in the important carbonated soft drink (CSD) category."CSD launches and rollouts with stevia are expected to accelerate. Whilst the scale of these is yet to be determined fully, current known launches and roll-outs will be sufficient to remove the historic industry inventory overhang by the end of the [financial year]."Net debt rose to $84.8m by the end of the half, compared with $75.2m at June 30th 2013.BC