Purecircle Ltd. provided earnings guidance for the second half ended June 30, 2012. For the period, the company's sales are expected to be $30 million giving not less than $45 million for the full year Fiscal Year 2012. Whilst second half of 2012 sales are double those of first half of Fiscal Year 2012 they are lower than the company expects partly due to the delay in a number of projects now slated for launch in Fiscal Year 2013. The Group expects second half of Fiscal Year 2012 variable margins to be in line with those reported in first half of Fiscal Year 2012. With sales at double first half levels, second half losses will be lower than first half Fiscal Year 2012. The Group has continued to reduce inventories. However with increased receivables due to the doubling of sales volumes, working capital is expected to be higher than at December 31, 2011, resulting in net debt increasing to not more than $80 million. The Group funding headroom at the end of Fiscal Year 2012 is expected to be not less than $44 million.