PureCircle sees annual earnings 'slightly' missing market expectations
Source - SMW
Sweetener producer PureCircle said it expected its annual earnings to be slightly below the current range of market expectations.
Sales, meanwhile, for the year through June were seen at $125m.
'As expected, demand for our early generation Stevia products has fallen, as customers reformulate a number of their food and beverage products based on utilising our newer generation stevia and the superior taste they deliver,' the company said.
'In some cases, customer product launches have been rescheduled to a later date, which has moved our supply of products to them into our new financial year, rather than the second half of the 2019 financial year as had initially been anticipated.'