PureCircle Limited Year-End Trading Update (2644E)
03 Julio 2019 - 01:00AM
UK Regulatory
TIDMPURE
RNS Number : 2644E
PureCircle Limited
03 July 2019
Year-end Trading Update
Chicago, Illinois July 2, 2019 - PureCircle (LSE: PURE), the
world's leading producer and innovator of stevia sweeteners,
provides an update on trading for the 12 months ended 30 June
2019.
The Company expects to report sales of US$125 million and EBITDA
slightly below the current range of expecations for the period.
FY19 has been a transitional year for PureCircle, with the launch
of the latest and best tasting stevia product, Reb M. As
highlighted in the Company's half year results, the Company's new
strategy is focused on launch of its next generation and best
tasting stevia, Reb M, which is off to a good start with many
beverage and food products already in the markets of US and Europe
with favourable feedback from consumers. As expected, demand for
our early generation Stevia products has fallen, as customers
reformulate a number of their food and beverage products based on
utilising our newer generation stevia and the superior taste they
deliver. In some cases, customer product launches have been
rescheduled to a later date, which has moved our supply of products
to them into our new financial year, rather than H2 FY19 as had
initially been anticipated.
PureCircle CEO Maga Malsagov said:
"PureCircle is committed to delivering the best tasting stevia
products to the food and beverage industry worldwide and our
innovative new product, Reb M, has been developed in line with this
mission. Our innovation has enabled us to disrupt an industry which
has a strong need for natural sugar alternatives and while short
term this leads to substitution of our base business, we believe it
positions us strongly for the future. Naturally, it is
disappointing that some new reformulated product launches have
shifted to the next financial year but our agenda is focused on mid
to long term and our strong project pipeline emphasises that
PureCircle has the right product portfolio to capitalise on the
growing demand for great tasting stevia products globally."
Enquiries
Investors/Analysts
Rakesh Sinha, CFO
Email: Rakesh.sinha@purecircle.com Phone: +1 630 827 1515
Media
Emma Kane (Newgate Communications)
Email: media@purecircle.com Phone: +44 (0) 20 3757 6880
Notes to Editors
About PureCircle
-- PureCircle is the only company that combines advanced R&D with full vertical integration from farm to
high-quality, great-tasting innovative stevia sweeteners.
-- The Company collaborates with farmers who grow the stevia plants and with food and beverage companies which seek
to improve their low- and no-calorie formulations using a sweetener from plants.
-- PureCircle will continue to: lead in research, development and innovation; produce a growing supply of multiple
varieties of stevia sweeteners with sugar-like taste, using all necessary and appropriate methods of production;
and be a resource and innovation partner for food and beverage companies.
-- PureCircle stevia flavor modifiers work in synergy with sweeteners to improve the taste, mouthfeel and calorie
profile, and enhance the cost effectiveness, of beverage and food products.
-- Founded in 2002, PureCircle is continually investing in breakthrough research and development and it has been
granted over 130 stevia-related patents with more than 250 applied for patents pending.
-- PureCircle has offices around the world with the global headquarters in Chicago, Illinois.
-- To meet growing demand for stevia sweeteners, PureCircle is rapidly ramping up its supply capability. It
completed expansion of its Malaysian stevia extract facility in March 2017, increasing its capacity to rapidly
supply the newer and great-tasting specialty stevia sweeteners and helping provide ever-increasing value to its
customers.
-- PureCircle's shares are listed on the main market of the London Stock Exchange.
-- For more information, visit: www.purecircle.com
About stevia
-- Given the growing global concerns about obesity and diabetes, beverage and food companies are working responsibly
to reduce sugar and calories in their products, responding to both consumers and health and wellness advocates.
Sweeteners from the stevia plant offer sugar-like taste and are becoming an increasingly important tool for these
companies.
-- Like sugar, stevia sweeteners are from plants. But unlike sugar, they enable low-calorie and zero-calorie
formulations of beverages and foods.
-- Stevia leaf extract is a natural-based, zero calorie, high-intensity sweetener, used by global food and beverage
companies as a great-tasting zero-calorie alternative to sugar and artificial sweeteners.
-- Stevia is a naturally sweet plant native to South America; today, it is grown around the world, notably in Kenya,
China and the US.
-- The sweet-tasting parts of the stevia leaf are up to 350 times sweeter than sugar: stevia's high-intensity
sweetness means it requires far less water and land than sugar.
-- Research has shown that the molecules of the stevia leaf are present and unchanged in the dried stevia leaf,
through the commercial extraction and purification process, and in the final stevia leaf extract product. All
major global regulatory organisations, across 65 countries, have approved the use of high-purity stevia leaf
extracts in food and beverages.
-- Stevia has strong environmental benefits when compared to sugar requiring less water, less land area and having
a lower carbon footprint.
-- For more information on the science of stevia, please visit https://www.purecirclesteviainstitute.com/
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END
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