PureCircle has said that it is expecting a surge in full year profits, driven largely by higher sales of its Reb A products and strong demand from consumers.
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For the year ended 30 June, the AIM-listed group said it expects net profit of at least US$11m, up 420% from last year. The company said it anticipates sales of not less than $62m, up 85% over last year, with an increase of 130% from Reb A products, its zero-calorie sweetener.
“Reb A-based products already account for upwards of 10% of the US tabletop segment…and the industry expects the full year figure to exceed and overtake the aspartame market share of 15%. To have accomplished this in less than a year is a magnificent achievement by the industry and demonstrates the consumer demand for natural, zero-calorie stevia sweeteners,” said Angus Flood, head of international marketing, PureCircle.
PureCircle added it is in talks with over 100 food and beverage brands for new product launches and announced that the company 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,” PureCircle chief executive Magomet Malsagov said in a statement.
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