Share Name Share Symbol Market Type Share ISIN Share Description
Purecircle Limited LSE:PURE London Ordinary Share BMG7300G1096 ORD USD0.10 (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 131.20 129.60 132.80 0.00 0.00 0.00 0.00 00:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Food Producers 99.2 5.7 3.8 34.0 242

PureCircle Limited Year-End Trading Update

03/07/2019 7:00am

UK Regulatory (RNS & others)


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RNS Number : 2644E

PureCircle Limited

03 July 2019

Year-end Trading Update

Chicago, Illinois July 2, 2019 - PureCircle (LSE: PURE), the world's leading producer and innovator of stevia sweeteners, provides an update on trading for the 12 months ended 30 June 2019.

The Company expects to report sales of US$125 million and EBITDA slightly below the current range of expecations for the period. FY19 has been a transitional year for PureCircle, with the launch of the latest and best tasting stevia product, Reb M. As highlighted in the Company's half year results, the Company's new strategy is focused on launch of its next generation and best tasting stevia, Reb M, which is off to a good start with many beverage and food products already in the markets of US and Europe with favourable feedback from consumers. As expected, demand for our early generation Stevia products has fallen, as customers reformulate a number of their food and beverage products based on utilising our newer generation stevia and the superior taste they deliver. In some cases, customer product launches have been rescheduled to a later date, which has moved our supply of products to them into our new financial year, rather than H2 FY19 as had initially been anticipated.

PureCircle CEO Maga Malsagov said:

"PureCircle is committed to delivering the best tasting stevia products to the food and beverage industry worldwide and our innovative new product, Reb M, has been developed in line with this mission. Our innovation has enabled us to disrupt an industry which has a strong need for natural sugar alternatives and while short term this leads to substitution of our base business, we believe it positions us strongly for the future. Naturally, it is disappointing that some new reformulated product launches have shifted to the next financial year but our agenda is focused on mid to long term and our strong project pipeline emphasises that PureCircle has the right product portfolio to capitalise on the growing demand for great tasting stevia products globally."

Enquiries

Investors/Analysts

Rakesh Sinha, CFO

Email: Rakesh.sinha@purecircle.com Phone: +1 630 827 1515

Media

Emma Kane (Newgate Communications)

Email: media@purecircle.com Phone: +44 (0) 20 3757 6880

Notes to Editors

About PureCircle

   -- PureCircle is the only company that combines advanced R&D with full vertical integration from farm to 
      high-quality, great-tasting innovative stevia sweeteners. 
 
   -- The Company collaborates with farmers who grow the stevia plants and with food and beverage companies which seek 
      to improve their low- and no-calorie formulations using a sweetener from plants. 
 
   -- PureCircle will continue to: lead in research, development and innovation; produce a growing supply of multiple 
      varieties of stevia sweeteners with sugar-like taste, using all necessary and appropriate methods of production; 
      and be a resource and innovation partner for food and beverage companies. 
 
   -- PureCircle stevia flavor modifiers work in synergy with sweeteners to improve the taste, mouthfeel and calorie 
      profile, and enhance the cost effectiveness, of beverage and food products. 
 
   -- Founded in 2002, PureCircle is continually investing in breakthrough research and development and it has been 
      granted over 130 stevia-related patents with more than 250 applied for patents pending. 
 
   -- PureCircle has offices around the world with the global headquarters in Chicago, Illinois. 
 
   -- To meet growing demand for stevia sweeteners, PureCircle is rapidly ramping up its supply capability. It 
      completed expansion of its Malaysian stevia extract facility in March 2017, increasing its capacity to rapidly 
      supply the newer and great-tasting specialty stevia sweeteners and helping provide ever-increasing value to its 
      customers. 
 
   -- PureCircle's shares are listed on the main market of the London Stock Exchange. 
 
   -- For more information, visit: www.purecircle.com 

About stevia

   -- Given the growing global concerns about obesity and diabetes, beverage and food companies are working responsibly 
      to reduce sugar and calories in their products, responding to both consumers and health and wellness advocates. 
      Sweeteners from the stevia plant offer sugar-like taste and are becoming an increasingly important tool for these 
      companies. 
 
   -- Like sugar, stevia sweeteners are from plants. But unlike sugar, they enable low-calorie and zero-calorie 
      formulations of beverages and foods. 
 
   -- Stevia leaf extract is a natural-based, zero calorie, high-intensity sweetener, used by global food and beverage 
      companies as a great-tasting zero-calorie alternative to sugar and artificial sweeteners. 
 
   -- Stevia is a naturally sweet plant native to South America; today, it is grown around the world, notably in Kenya, 
      China and the US. 
 
   -- The sweet-tasting parts of the stevia leaf are up to 350 times sweeter than sugar: stevia's high-intensity 
      sweetness means it requires far less water and land than sugar. 
 
   -- Research has shown that the molecules of the stevia leaf are present and unchanged in the dried stevia leaf, 
      through the commercial extraction and purification process, and in the final stevia leaf extract product. All 
      major global regulatory organisations, across 65 countries, have approved the use of high-purity stevia leaf 
      extracts in food and beverages. 
 
   -- Stevia has strong environmental benefits when compared to sugar requiring  less water, less land area and having 
      a lower carbon footprint. 
 
   -- For more information on the science of stevia, please visit https://www.purecirclesteviainstitute.com/ 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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