Purecircle Ltd (LON:PURE) FY18 results demonstrate the business is recovering well from the problems in North America. Transition to the superior StarLeaf stevia product is proceeding well and should continue to be accretive to margins. The innovation pipeline remains strong and the company is well positioned to continue to capitalise on the shift away from sugar and towards natural sweeteners.
Bounceback in North America
FY18 sales were 10% above the previous year, with volumes up 17%.Sales growth was driven by both the North American recovery and new business wins across key accounts. The successful launch of StarLeaf stevia is significant: it contains a better-tasting variant of stevia, which enables customers to achieve no added-sugar formulations, rather than having to mix stevia with sugar or other sweeteners. StarLeaf is also accretive to margins and remains a 100% natural product.
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