PureCircle - Growing pains
PureCircle’s H119 results highlight the ongoing evolution in the company: sales declined 5%, partly due to phasing of deliveries, but also due to adoption of the superior-tasting, higher-margin Reb M product cannibalising the base business. Gross margins were up 240bp as a result of Reb M contributing positively to the mix. The innovation pipeline continues to strengthen and the company is well positioned to capitalise on the continued shift away from sugar and towards natural sweeteners.Purecircle is engaged in the production, marketing and distribution of stevia ingredients, a natural sweetener and flavour solutions regarded as a viable complement to sugar and corn (high fructose corn syrup) in mainstream food and beverage production.
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