22 Aug 2008 07:00
PURECIRCLE LIMITED ("PureCircle" or "the Company")
Change of Accounting Period and Notification of Revised Results Announcement Date
PureCircle announces that it is to change its year-end from the current 31 December to 30 June. This change is to bring the Company's financial reporting cycle into line with the Company's principal operating activities, particularly its major sales contracts and the buying season for stevia leaf, its primary raw material.
As recently announced, the Company has been successful in securing significant new multi-year sales contracts. These and the Company's other major sales contracts now all run on a 1 July to 30 June basis.
On the supply side, over 80% of global supply of stevia leaf is currently sourced from China. The China stevia leaf harvest is intensely seasonal with buying starting from early July. Inventories are at their lowest at end June.
The Company's next results are for the six month period to 30 June 2008. Thereafter the first full year results will be for the year from 1 July 2008 to 30 June 2009.
The Company had previously advised that the (unaudited) interim results would be announced on 17 September 2008. As 30 June 2008 will now constitute an accounting period end, the results for the six months to 30 June 2008 will now require a full audit. Consequently the Company has decided to defer the announcement date to Wednesday 15 October 2008* in order to enable the audit to take place.
The interim results for the six months ended 31 December 2008 will be released in March 2009.
22 August 2008
* A presentation for analysts will take place that morning at 09.30 at the offices of College Hill, The Registry, Royal Mint Court, London EC3N 4QN
| Enquiries: | |
| PureCircle | Tel: +44 7974 005 163 |
| William Mitchell, Finance Director | |
| College Hill | Tel: +44 20 7457 2020 |
| Mark Garraway | |
| RFC Corporate Finance (NOMAD) | Tel: +61 8 9480 2500 |
| Steve Allen |
For further information please visit the company website: www.purecircle.com