Life still looking sweet at Tate & Lyle

0
Have your say

SWEETENER maker Tate & Lyle yesterday said it was on course for another year of profitable growth.

However, the company revealed that its first-half profits had been hit by the cold spring weather in the US, and a slow start to the summer.

Tate & Lyle, whose brands include zero-calorie sweeteners Splenda and Tasteva, said the colder weather had affected sweetener volumes across its two divisions.

It expected adjusted operating profit for the six months to September 30 to be lower, when compared with the same period last year.

The company said it expected operating profits at its speciality food ingredients business for the period to be broadly in line with the prior year, following slower demand in the US beverage sector and lower selling prices for sucralose.

It said first-half operating profits at its bulk ingredients business was expected to be hit by lower sweetener volumes, but it anticipates the division to post a stronger performance in the second half.

greg.wright@ypn.co.uk