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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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5 Jan 2015 07:22

Demand for healthy fizzy drinks boosts sales for Stevia group PureCircle

Stevia ingredients maker PureCircle has painted an upbeat outlook, as increased demand for lower-calorie fizzy drinks resulted in a 24% jump in sales in the first half. The company said that the six-month period ended 31 December 2014 was helped by "milestone product launches and new market roll-out

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4 Nov 2014 10:28

PureCircle To Increase Placing Size On Strong Demand (ALLISS)

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21 Oct 2014 07:59

PureCircle Shares Down On Discounted Private Placement (ALLISS)

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17 Sep 2014 08:34

UK BROKER RATINGS: Berenberg Raises Johnson Matthey To Buy

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15 Sep 2014 08:31

UK BROKER RATINGS: Shore Capital Upgrades Carnival To Buy

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11 Sep 2014 08:35

UK BROKER RATINGS: Credit Suisse Upgrades TUI Travel To Outperform

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10 Sep 2014 10:36

PureCircle Swings To Pretax Profit As Stevia Makes It Into Cans

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10 Sep 2014 06:36

PureCircle swings to full-year profit

Sept. 10 (Reuters) - PureCircle Ltd, the producer and marketer of natural sweetener Stevia, swung to a full-year profit from a year-ago loss, helped by increased sales of new Stevia products. Stevia is a low-calorie natural sweetener used in carbonated soft drinks and yoghurts and is up to

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2 Jul 2014 08:03

PureCircle Swings To Net Profit, Positive On Outlook

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11 Jun 2014 10:59

PureCircle to benefit from new stevia-based Coca-Cola Life, says Numis

Natural sweetener producer PureCircle's share price received a boost on Wednesday from the news that Coca-Cola Life, a new lower calorie drink, is to be launched in the UK. Coca-Cola Life, the first new Coca-Cola product in the UK since Coca-Cola Zero was launched in 2006, will contain 36% fewer ca

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11 Jun 2014 09:09

UK BROKER RATINGS: Exane BNP Resumes Whitbread With Outperform

LONDON (Alliance News) - The following UK shares received analyst recommendations Wednesday morning:
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FTSE 100
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EXANE BNP RESUMES WHITBREAD WITH 'OUTPERFORM' - TARGET 5000 PENCE
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CITIGROUP CUTS BABCOCK INTERNATIONAL

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11 Jun 2014 09:05

Wednesday broker round-up UPDATE

ASOS: Berenberg reduces target price from 5350p to 3785p, while its buy recommendation is kept. Babcock International: Citi reduces target price from 1320p to 1280p and retains a neutral rating. Cobham: UBS raises target price from 290p to 315p and keeps a neutral rating. Dechra Pharmaceuticals:

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8 May 2014 13:32

DIRECTOR DEALINGS: PureCircle Chairman Buys Shares

LONDON (Alliance News) - PureCircle Ltd Thursday said non-executive independent Chairman Paul Selway-Swift bought 2,300 shares at a price of GBP6.02 per share. In addition to the purchase, a total of 212,171 shares held indirectly by Selway-Swift's wife have been transferred to other family

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25 Apr 2014 16:00

Cineworld's newest board members stock up

Mooky Greidinger, who took over as Chief Executive Officer (CEO) of Cineworld just two months ago, on Friday acquired 48,090 shares in the group. He paid 302.63p a share spending a total of £145,535. Chief Operating Officer, Israel Greidinger, matched his purchase with his own. Both joined the

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21 Mar 2014 10:08

UK BROKER RATINGS: Nomura Cuts View On Mining Sector

LONDON (Alliance News) - The following UK shares received analyst recommendations Friday morning:
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FTSE 100
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UBS RAISES MEGGITT TO 'BUY' ('NEUTRAL') - TARGET 520 (530) PENCE
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BARCLAYS CUTS RBS TO 'EQUAL WEIGHT' ('OVE

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