Tate & Lyle issues profit warning
TATE & Lyle said significant disruption to its supply chain and increased competition for its Splenda sucralose sweetener in its second quarter would hit annual profit.
The company said it expected to incur additional costs of about £20m in its second quarter, taking the total for the first half to £40m, plus an additional £10m in the second half. The additional costs meant it now expected group adjusted profit before tax for the full year to be in the range of £230m to £245m.