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PureCircle predicts significantly reduced losses in H1, 2013

By Elaine WATSON , 07-Jan-2013
Last updated on 07-Jan-2013 at 16:49 GMT2013-01-07T16:49:59Z

PureCircle predicts significantly reduced losses in H1, 2013

Stevia specialist PureCircle expects sales in the first half of fiscal 2013 (six months to Dec 31, 2012) to surge 80% to $27.3m.

Meanwhile, volumes of high purity stevia sweeteners and natural flavors are expected to increase by 135%, led by sales of new proprietary ingredients.

EBITDA (profit before interest, tax, depreciation and amortization) is “expected to show an 80% improvement” against the first half of 2012, in which the firm posted losses of $8.9m, said the firm.

CEO Magomet Malsagov said: “New long term supply and joint development agreements with major global food and beverage (F&B) companies have been signed adding to our already strong portfolio of Global Key Accounts.

“Across the world, large food and beverage brands began to adopt our ingredients, most notably carbonated soft drinks, including the important Cola category.”

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