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PureCircle's volumes still sub-scale

Tue, 11th Sep 2012 09:13

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%. "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.The market took that guidance on board, selling the shares in the short-term, pushing the price down 10.5p to 165.5p.JH
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LONDON (Alliance News) - PureCircle Ltd late Tuesday said it intends to raise funds to enable it to fully capitalise on both existing and new opportunities following a growing demand for stevia it

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12 Mar 2019 12:08

PureCircle loss widens after inventory write-down

(Sharecast News) - PureCircle on Tuesday reported a wider interim loss following a decline in revenues and a write-down of its inventory as it moved to create products with a new variety of stevia leaf.

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12 Mar 2019 09:34

PureCircle Interim Loss Widens Due To Inventory Write-Down

LONDON (Alliance News) - PureCircle Ltd on Tuesday said its loss widened in the first half of its current financial year as it continues to invest in research & development of its stevia the a

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3 Dec 2018 16:42

Purecircle to develop protein, soluble fibers and antioxidants from stevia

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16 Oct 2018 15:44

Purecircle ups stevia production as sugar tax lift demand

(Sharecast News) - Purecirle, the manufacturer of plant-based sweetener stevia, has increased production as health-conscious consumers and the UK's sugar tax drive demand, the company said on Tuesday.

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18 Sep 2018 09:36

PureCircle Adjusted Earnings Rise; Files Patent Case; Chair To Retire

LONDON (Alliance News) - PureCircle Ltd on Tuesday reported a dip in annual pretax profit, but a rise on an adjusted basis, while saying its long-time chairman, Paul Selway-Swift, will retire from

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24 Aug 2018 09:52

PureCircle knows no reason for share price movement

(Sharecast News) - AIM-listed PureCircle, the producer of stevia sweeteners, noted the increase in its trading volumes and share price volatility over the past few trading sessions and said it is not aware of any price sensitive information about the company that has yet to be disclosed.

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24 Aug 2018 08:59

CORRECT: PureCircle Not Aware Of Reasons Behind Surge In Share Price

(Correcting that PureCircle will report its full-year results on September 18, not interim results.)LONDON (Alliance News) - PureCircle Ltd on Friday said it noted the increase in trading

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24 Aug 2018 08:08

PureCircle Not Aware Of Any Reason Behind Surge In Share Price

LONDON (Alliance News) - PureCircle Ltd on Friday said it noted the increase in trading volumes and share price volatility over the past few trading sessions.The sweeteners manufacturer it

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PureCircle Loss Narrows As It Recovers From US Stevia Import Ban

LONDON (Alliance News) - Food and drink sweetener firm PureCircle Ltd reported on Tuesday a narrowed loss in the first half of its financial year as the company gets back on a

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10 Jan 2017 09:15

PureCircle has US border restrictions lifted

(ShareCast News) - PureCircle, a producer and marketer of high purity stevia ingredients, has announced that the US Customs and Border Protection (CBP) have decided to release the company's refined stevia consignments after its investigation into the products. The hold up at the US border has been a

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5 Jan 2017 10:08

PureCircle expects lower profits in first half due to US border restrictions

(ShareCast News) - PureCircle, producer and marketer of high purity stevia ingredients, has issued a profit warning after its shipments to the US have been detained by US Customs Border Protection. The investigation has negatively impacted the group's earnings as the US market constitutes one thi

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