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Purecircle Limited (DI) (PURE)

Share Price:
Down 247.00p
Change Today:
-8.00p
Market Cap:
455.60m

PureCircle revenues take a hit as product launches get delayed

03 Jul 19

LONDON (ShareCast) - (Sharecast News) - Sweetener producer PureCircle warned on Wednesday that full-year revenues would be slightly behind its current range of expectations.
The company expects to post sales of around $125m from its "transitional year" as its latest stevia product, Reb M, overtook demand for its early generation products.

With the AIM-listed group reformulating several products, in some cases, customer product launches were rescheduled "to a later date", which moved its supply of products into the new financial year, rather than late in the second half of its 2019 trading year as had initially been anticipated.

Chief executive Maga Malsagov said: "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."

At 1110 BST, PureCircle shares were down 3.55% at 238p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Market Data

Currency UK Pounds
Price 247.00p
Change Today -8.00p
52 Week High 405.00p
52 Week Low 236.00p
Volume 16,498
Shares Issued 184.45m
Market Cap 455.60m

Dividends

No dividends found