PureCircle annual operating profits rise on higher revenue

Sweetener producer PureCircle's annual operating profits rose as revenue was driven higher by having its product incorporated into Coca-Cola, Pepsi and other carbonated drink products.The group reported an annual net loss of $899m (£608.4m), a 52.7% decline from the previous year, while earnings before interest, tax, depreciation and amortisation rose 23% to $6.4m and revenue grew 24% to $43.2m.PureCircle said that high profile Cola roll-outs led by Coca-Cola Life, Pepsi Next and Pepsi True into the US, Mexico, UK, France and Japan markets indicated clearly that its stevia product was now "a mainstream sweetener of choice" in the industry."The period has also seen a wide range of stevia sweetened product launches from major retailers across Europe and America and iconic brand adoption in categories as diverse as ketchups, yogurts and confectionery," the group said in a statement on Monday.The AIM-listed company added it had expanded its production capacity to meet the growth in demand but warned that demand may be lumpy in the short term."Until market consumption smooths out, that growth will come with a lumpy sales profile and therefore some volatility: this adds some complexity to our ability to provide guidance in the short term," it said.PureCircle shares were down 4.15% to 520.00p at 08:47 on Monday.