PureCircle Profit To Be Lower On Year; Agrees Joint Venture
27 Juli 2010 - 10:10AM
Dow Jones News
Sweeteners company PureCircle Ltd. (PURE.LN) Tuesday said
spending on sales and marketing and investment in production
facilities mean profit for its 2010 fiscal year will be lower than
a year earlier.
The company added sales will be flat year-on-year. It ended a
contract with a trading partner in favor of selling directly to
food and beverage makers, the company said. The trading partner
accounted for 60% of its sales in the 2009 fiscal year, PureCircle
said.
Also Tuesday, PureCircle said it agreed to form a joint venture
with Associated British Foods PLC's (ABF.LN) British Sugar Group
unit to market a range of low calorie sweeteners worldwide.
Joint venture The Natural Sweetness Company will be owned
equally by both parties and will develop and market a range of
products to the food and drinks industry. The low calorie products
will be a combination of sugar and PureCircle's sweeteners, which
are derived from the stevia plant.
In February, PureCircle, whose customers include Unilever NV
(UNA.AE) and PepsiCo Inc. (PEP), said it formed a joint venture
with Imperial Sugar Co. (IPSU) to create a new range of
sweeteners.
-By Jason Douglas, Dow Jones Newswires; 44-20-7842-9272;
jason.douglas@dowjones.com
Unilever NV (NYSE:UN)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
Unilever NV (NYSE:UN)
Historical Stock Chart
Von Jul 2023 bis Jul 2024
Echtzeit-Nachrichten über Unilever NV (New York Börse): 0 Nachrichtenartikel
Weitere Unilever N.V. ADS News-Artikel