Stevia sweetener maker PureCircle today (22 March) reported rising half-year sales and earnings as the company’s client base continues to grow.
The London-listed firm, which supplies ingredients to the likes of Nestle, Danone and PepsiCo, booked operating profit of US$2.6m for the six months to the end of December, up from $2.1m a year earlier. Turnover reached $37.5m, against $21.6m in fiscal 2008/09.
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However, net profit was down, falling from $2.1m to $1.5m. Neverthless, PureCircle was upbeat about the outlook for the business.
Chairman Paul Selway-Swift said: “We are pleased to report a strong first half performance. With widespread regulatory clearances and many product launches across numerous categories and in many regions, we believe stevia is continuing to develop towards being a major global industry.”
However, he warned: “Our strategy remains one of being a leading player in this developing global industry that did not exist a few years ago. We continue to see strong interest from the largest Food & Beverage companies, but product launches on a mass scale require planning and executing over an extended period. So, our sales will remain volatile and it will take time for the true long term sales velocity of our unique products to become apparent.”
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