Section Items

Clarification
The comments on this page are some of the thoughts that I had when considering this company and not a recommendation to take an action or to refrain from taking an action.

As you know we have no information about your circumstances, understanding of your investment goals or the level of risk that is acceptable to you. So it would be completely unreasonable to read these commentaries as recommendations.
Is This Just Pump And Dump?
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Commentaries tend to be created when I look at a share and decide if it is one that I want to buy either now or when I next have an unallocated pot.
Financials
As companies often report numbers in slightly different ways there are a number of entries to cover this and as these are rough notes there will usually be empty items.

The debt columns are shown as positive values if there is any debt, all other negative values are shown within parenthesis and without a sign.

Commentary On PureCircle Limited

Title: PureCircle – A Great Product But Possibly Too Much Debt?
Company: PURE - PureCircle Limited
Share Price Then: 197p
Author: Ian Smith
Date: Wed 25 Sep 2019
Comments: PureCircle grow and produce a sweetener based on the Stevia plant, in general this seems to be a good market to be in as sugar is currently the evil food of the month, how long sugar will remain disliked though is unclear.

The numbers for the company however seem very unattractive with a large amount of debt and a recently announced delay to the publication of its results for the year ended 30 June 2019. There is a potential issue relating to the classification and valuation of certain inventory items was identified by the Group's auditors whatever that means.

Net Debt has fluctuated from $98m in 2014 to around $100m dropping as low as $45m, with current net profit under $10m this is worrying.

They have been a plc for 11 years and have over a 1,000 employees which surprised me as I thought that they me be a startup as their current P/E is around 40 even after a big drop in the share price.

Note that the numbers displayed are in USD.
Financials:
ItemCurrent PeriodPrevious Period
Year20192018
Period6 Months6 Months
Revenue£51m£54m
Earnings
Adjusted Earnings
EBITDA
Adjusted EBITDA£12m£8m
Statutory Profit(£22m)(£4m)
Adjusted Profit
Total Debt
Net Debt£103m£98m
Read Count: 75

Commentary History

Date Ticker Title
Wed 25 Sep 2019PUREPureCircle – A Great Product But Possibly Too Much Debt?