PureCircle, the UK-listed supplier of the sweetener stevia, has said that it expects its second-half sales to be 70% ahead of last year.
In a trading update today (6 July), the firm said that it is expecting sales of US$40m for the six months to 30 June. Sales were underpinned by “fulfilment of contracted volumes with the company’s beverage account” and an increase in the number of global customers, it said.
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In addition, PureCircle said it expects to report a positive net margin, before one-off charges, and EBITDA in the range of $3m to $5m.
“As expected we are seeing a strengthening in demand for our high purity stevia products,” said PureCircle CEO Magomet Malsagov. “We have also secured initial sales of new natural flavour innovations that were introduced recently to the market.
The firm said it expects continued growth, however added that its guidance for “high-level market demand remains mid- to long-term based. Until then, there will continue to be some volatility in our results”.
The company’s results statement for the full-year is expected to be announced on 26 September.
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By GlobalDataYesterday, full regulatory backing for use of the intense sweetener in Europe came a step nearer after the EU’s Standing Committee on Food Chain and Animal Health voted to recommend the use of stevia as an ingredient in food and beverages.
