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PureCircle full-year profit up 420%
PureCircle has announced that it expects a surge in full-year profits, helped mainly by higher sales of its Reb-A products and strong demand from consumers. For the year ended 30 June, the AIM-listed group said it expects net profit of at least $11m, up 420% from last year.
PureCircle anticipates sales of not less than $62m, up 85% over last year, with an increase of 130% (or 264 metric tonnes) from Reb-A products, its no-calorie sweetener.
“Reb-A based products now account for upwards of 10% of the US tabletop segment, and Reb-A flavoured soft drink products are outperforming their categories,” said the company, which supplies sweeteners to US beverage giants PepsiCo and The Coca-Cola Company.
PureCircle said it was in talks with more than 100 food and beverage brands for new product launches, and is currently selling Reb-A to more than 25 customers.
“We expect the world’s F&B companies to increase the rate of launches using Reb-A during 2010 and 2011,” said chief executive, Magomet Malsagov, in a statement.
Rebaudioside A (Reb-A) is made from certain compounds in the leaves of stevia, a shrub native to Paraguay, and is likely to compete with established artificial sweeteners such as saccharin, aspartame and sucralose, which are sold under brand names Sweet’N Low, NutraSweet and Splenda.
Source: PureCircle
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