PureCircle, a producer of stevia ingredients, expects first-half sales to surge as food and beverage companies sign up for the natural sweetener.
Net sales are expected to show an increase of 80% to US$27m in the six months to 31 December, the company said in a trading update today (7 January). Volumes should see a 135% increase and all regions are expected to post sales growth, PureCircle said.
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The company’s interim results for H1 will be announced on 13 March, it said.
Group CEO Magomet Malsagov said PureCircle signed a number of supply deals with “major global food and beverage companies” and brought new products to market in the six-month period.
“Across the world, large F&B brands began to adopt our ingredients, most notably carbonated soft drinks, including the important cola category,” Malsagov said.
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PureCircle said it expects to report improved operating margins and EBITDA in the six-month period.
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By GlobalDataRegulators around the world continue to authorise the use of the sugar substitute, with Canada formally approving stevia sweeteners last month.
