PureCircle expects 420 per cent profit growth
Pure Circle, supplier of stevia-derived Reb A, is expecting to report a 420 per cent increase in profit in its full year results due to good reception for the first products launched in the US.
The company listed on London’s AIM in December 2007. It said today that it expects a net profit of at least $11m when it reports its results for the full year ended 30 June in September. Sales are expected to be not less than $62m, up 85 per cent in value terms. Volume-wise sales of the Reb A sweetener look to have increased 130 per cent.
The boom is being attributed to take up in the US following GRAS notification in late 2008. PureCircle counts beverage giant PepsiCo amongst its 25 customers, and says it is in talks with more than 100 food and drink brands over new product launches.