Delays hit PureCircle's sales

PureCircle, which makes sweeteners based on the stevia herb, left a sour taste in investors' mouths on Monday as it admitted sales in the second half of its financial year had been below expectations.

PureCircle, which makes sweeteners based on the stevia herb, left a sour taste in investors' mouths on Monday as it admitted sales in the second half of its financial year had been below expectations.

Sales in the six months to the end of June are expected to be around $30m, which would push full year sales up to not less than $45m. The group said the disappointing sales number is partly due to the delay in a number of projects now slated for launch in the current financial year, and partly due to the end of the legacy "Take or Pay" volumes and lower sales of co-products, which reflects PureCircle's decision to slow down Reb A production in 2011 to prevent stocks building up too quickly.

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