US: PureCircle records first-half net loss
- FY sales slide by 63.7% to $13.6m
- Company makes an operating loss of $1.1m
- FY 2011 sales expected to be in the range $50m to $60m.
Stevia producer PureCircle swung to a first-half net loss
Stevia producer PureCircle has swung to a net loss in the first half of the year.
In the six months to the end of December, the firm made a net loss of US$7m compared to profits of $1.6m last year, it reported today (22 March). The company posted an operating loss of $1.1m from operating profits of $7.4m in the prior-year period.
Sales slid by 63.7% in the period to $13.6m.
PureCircle chairman, Paul Selway-Swift, said: "The first half FY 2011 has been a challenging period with sales not reflecting the underlying growth in the Stevia market. We remain confident of the long term opportunity.
"The range of products already launched, the strong consumer reaction to Stevia and the quality of the companies using Stevia regularly all suggest that it is developing into a significant global industry.”
The firm said it expects full-year 2011 sales to be in the range of $50m to $60m.
Click here to view the full earnings release.
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