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
3rd Oct 20129:41 amRNSHolding(s) in Company
3rd Oct 20129:11 amRNSDirector/PDMR Shareholding
3rd Oct 20127:00 amRNSLTIP Options - Options Issued to Directors
1st Oct 20127:00 amRNSDirector/PDMR Shareholding
28th Sep 20127:00 amRNSAnnouncement of New Agreements
11th Sep 20127:00 amRNSFinal Results
6th Sep 20127:00 amRNSAnnouncement of Prelims & Investor Conference Call
9th Aug 20127:00 amRNSCompletion of Share Placement & Board Appointment
7th Aug 20127:00 amRNSExpansion of Executive Management Team
1st Aug 20127:00 amRNSPlacing of £20 million
26th Jul 20129:09 amRNSHolding(s) in Company
10th Jul 20127:00 amRNSLTIP Options
9th Jul 20128:50 amRNSHolding(s) in Company
9th Jul 20127:00 amRNSPre Close Period Update 2H FY 2012
24th Apr 20129:32 amRNSChange of Significant Shareholding
11th Apr 20127:00 amRNSNominated Adviser to Change Name
3rd Apr 20127:00 amRNSNew Significant Shareholding
30th Mar 20127:00 amRNSLTIP Options - Exercise by Directors
29th Mar 20127:00 amRNSInterim Results for the six months ended 31 Dec 11
9th Mar 20127:00 amRNSAnnouncement of Interim Results & Investor Call
1st Feb 20127:00 amRNSRe-organisation of Joint Broker
30th Jan 20121:45 pmRNSDirector/PDMR Shareholding
12th Jan 20127:00 amRNSTrading Update - H1 FY 2012
16th Dec 20117:00 amRNSQuarterly Stevia Market Update
14th Dec 20119:57 amRNSResult of AGM
18th Nov 20117:00 amRNSNotice of AGM and Annual Report
14th Nov 20117:00 amRNSRegulatory Approval for Stevia in the EU
11th Nov 20118:47 amRNSIssue of new shares in respect of the LTIP
3rd Nov 20118:43 amRNSChange of Significant Shareholding
30th Sep 20117:00 amRNSNotification of a Major Interest
28th Sep 20117:00 amRNSChange of Significant Shareholding
27th Sep 20119:26 amRNSDirector/PDMR Shareholding
19th Sep 20117:00 amRNSFinal Results
15th Sep 20117:00 amRNSLaunch of New Sweetener
12th Sep 20117:00 amRNSPreliminary Results and Investor Conference Call
7th Sep 20117:00 amRNSOperational Update
22nd Jul 20117:00 amRNSLTIP Options
13th Jul 20117:00 amRNSHigh Purity Stevia Market Update
8th Jul 20117:00 amRNSFurther regulatory approval recommendations
6th Jul 20117:00 amRNSTrading Update
5th Jul 20117:00 amRNSRecommendation for EU Approval
1st Jul 20117:00 amRNSPureCircle Announces Global Distribution Agreement
17th Jun 20118:44 amRNSChange of Significant Shareholding
17th Jun 20117:00 amRNSTrading Update
18th Apr 20118:23 amRNSDirector/PDMR Shareholding
7th Apr 20117:00 amRNSChange of Significant Shareholding
30th Mar 20117:00 amRNSMATERIAL CONTRACT EXTENSION
25th Mar 20118:48 amRNSDirector/PDMR Shareholding
21st Mar 20117:00 amRNSHalf Yearly Report
15th Mar 20117:00 amRNSInvestor Conference Call - Correction of Timing

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.