The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksPURE.L Regulatory News (PURE)

  • There is currently no data for PURE

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Trading Statement

5 Apr 2016 07:00

RNS Number : 1435U
PureCircle Limited
05 April 2016
 

PURECIRCLE LIMITED

("PureCircle" or "the Company")

 

Trading Update

 

 

PureCircle (LSE: PURE), the world's leading producer and marketer of high purity stevia ingredients, today provides an update on its trading for the year ended 30 June 2016 ("FY16").

 

During FY16 developments in the global sweetener market have continued to favour the mid to long term growth prospects for stevia. These have included further regulatory approvals, including the important markets of India and Brazil, and increasing governmental actions against added sugar, including the proposed UK sugar tax announced in the March 2016 UK Budget.

 

Trading in our third quarter to 31 March has continued to be strong with year to date sales growth in line with H1. Within our fourth quarter FY16 pipeline, there are more than $40m of projects that are subject to the timing of our clients launch plans where we do not yet have full visibility on when these launches will occur. Assuming that not all these projects do launch in the fourth quarter 2016, we expect year on year sales growth for the FY16 full year to be not less than 10%.

In March, the Group reported strong improvements in its 1H FY16 operating margins with all 1H FY16 measures of profitability in line with or ahead of consensus for the 1H FY16 period. At forecast full year FY16 foreign exchange rates, strong improvements in profit margins are currently expected to continue across the balance of FY16, such that, even if not all sales projects close in FY16, we still expect net profit for the full year FY16 to be in line with consensus.

 

Commenting on the trading update the Group Chief Executive Magomet Malsagov commented: "The market for stevia and our sales activity both continue to grow strongly. However, as I said in March, the trajectory of our sales growth will be uneven and is dependent on the pace and extent of customer roll-outs. Although the precise level of our short term growth is uncertain, our operating margins continue to strengthen, which gives us confidence in the increasing future profitability of the Group."

 

5 April 2016

  

 

 

Enquiries:

Magomet Malsagov, CEO

+603 2166 2066

William Mitchell, CFO

+44 7974 005 163

 

NOTES TO EDITORS

 

PureCircle Limited is the world's leading producer of high-purity stevia ingredients for the global food and beverage industry. Its mission is to encourage healthier diets around the world through the supply of natural ingredients to the global food and beverage industry. Its vision is to lead the global expansion of stevia as the next mass volume, natural-origin sweetener. PureCircle has offices around the world with the global headquarters in Kuala Lumpur, Malaysia. The Business was founded in 2002. PureCircle's shares are listed on the main market of London Stock Exchange and trades under the ticker symbol PURE. For more information, visit: www.purecircle.com.

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
TSTEELBBQZFFBBZ
Date   Source Headline
6th Jul 20157:00 amRNSPRECLOSE PERIOD UPDATE FY 2015
24th Apr 20157:00 amRNSAcquisition of remaining equity interest in PCJX
13th Apr 20157:23 amRNSDealings in Shares
10th Apr 20157:00 amRNSExercise of Options and Movement Treasury Shares
16th Mar 20157:00 amRNSInterim Results
9th Mar 20157:00 amRNSAnnouncement of Interim Results
28th Jan 20157:00 amRNSSustainability Report
27th Jan 20157:00 amRNSNotification of a Major Interest
14th Jan 20157:00 amRNSGrant of Options and Movement of Treasury Shares
5th Jan 20157:00 amRNSTrading Update
4th Dec 20147:00 amRNSResult of AGM
21st Nov 20147:00 amRNSHolding(s) in Company
12th Nov 20147:00 amRNSCompletion of Placement
11th Nov 20147:06 amRNSHolding(s) in Company
5th Nov 20147:00 amRNSNotice of AGM and Annual Report
4th Nov 20147:00 amRNSIncrease in Private Placement
22nd Oct 20147:00 amRNSDealings in Shares
21st Oct 20147:00 amRNSPrivate Placement to Support Accelerated Growth
14th Oct 20147:00 amRNSPublication of Annual Report
26th Sep 20147:00 amRNSDirector Share Transfer
19th Sep 20147:00 amRNSGrant of Options and Movement of Treasury Shares
10th Sep 20147:00 amRNSFinal Results
3rd Sep 20147:00 amRNSAnnouncement of Prelims & Investor Conference Call
4th Jul 20147:00 amRNSOptions Granted To and Exercised by Directors
2nd Jul 20147:04 amRNSPRECLOSE PERIOD UPDATE 2H FY 2014
17th Jun 20147:00 amRNSManagement Changes
10th Jun 20147:50 amRNSHolding(s) in Company
8th May 20147:00 amRNSDealings in Shares
2nd May 20147:00 amRNSExercise of Options
25th Apr 20147:00 amRNSDealings in Shares
8th Apr 20147:00 amRNSDirector's Shareholding
28th Mar 20147:00 amRNSExercise of Options
25th Mar 20147:50 amRNSHolding(s) in Company
19th Mar 20147:00 amRNSInterim Results
18th Mar 20147:00 amRNSBoard Change
10th Mar 20147:00 amRNSAnnouncement of Interim Results and Investor Call
10th Jan 20147:00 amRNSOptions Granted To and Exercised by Directors
6th Jan 20147:00 amRNSTrading Update
30th Dec 20137:00 amRNSFDA GRAS "No Objection" for New Rebaudioside M
3rd Dec 20137:00 amRNSResult of AGM
28th Nov 20137:45 amRNSHolding(s) in Company
14th Nov 20137:00 amRNSDealings in Shares
6th Nov 20137:00 amRNSNotice of AGM and Annual Report
8th Oct 20137:00 amRNSLTIP Options Awarded - Options Issued to Directors
16th Sep 20137:00 amRNSFinal Results
3rd Sep 20137:00 amRNSAppointment of Broker and New Financing Facility
2nd Sep 20137:00 amRNSAnnouncement of Prelims & Investor Conference Call
19th Jul 20138:13 amRNSHolding(s) in Company
11th Jul 20137:00 amRNSChange of Brokers
9th Jul 20137:00 amRNSFDA GRAS "No Objection" for New Rebaudioside D

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.