PureCircle Sees Full Year Profit Up 420 Percent

The company said it anticipates sales of not less than $62 million, up 85 percent over last year, with an increase of 130 percent, or 264 metric tons, from Reb A products, its zero-calorie sweetener.

09/07/09 PureCircle Ltd expects a surge in full year profits, helped mainly by higher sales of its Reb A products and strong demand from consumers. "Reb A-based products already account for upwards of 10 percent of the U.S. tabletop segment. This is a record-breaking introduction in five months following GRAS, 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. The taste and flavor profiles are clearly working. In addition, the sales numbers for Reb A flavored soft drink products are outperforming their categories and exceeding their brand owners' high expectations," said Angus Flood, head of international marketing, PureCircle, which supplies sweeteners to U.S. food and beverage giants, including PepsiCo Inc.

For the year ended June 30, the AIM-listed group said it expects net profit of at least $11 million, up 420 percent from last year. The company said it anticipates sales of not less than $62 million, up 85 percent over last year, with an increase of 130 percent, or 264 metric tons, from Reb A products, its zero-calorie sweetener.

PureCircle says 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.