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Figures sweeter for Tate & Lyle
Tate & Lyle yesterday beat forecasts with a 21 per cent rise in half-year profit and said it was confident for the full-year. The sweeteners firm posted adjusted pre-tax profit of £136m for the six months to the end of September. Chief executive Javed Ahmed said: “In addition to good operational performance and steady demand growth in a number of our markets, we benefited from strong seasonal demand and improved product income.” Tate is bouncing back from the global recession which forced it into price cuts for its sweeteners, while its sugar cane business is also facing increase competition.