Tate & Lyle sales rise 9%

first_imgSupplier Tate & Lyle has posted strong results, thanks to its profitable value-added food and industrial ingredients sectors.Interim results for the six months ended 30 September saw sales at the company rise 9%, to £2,039 m (from £1,868 m), due to a strong first half in Food & Industrial Ingredients, Americas and a good performance in Sugars, Europe from sugar trading. Pre-tax profit was 27% higher at £173m (from £136 m). But profitability in Sugars, Europe continued to be affected by lower domestic sales prices in EU sugar refining businesses due to an oversupply of sugar in the market.Tate & Lyle said the oversupply of sugar and changes to the EU sugar regime meant profits in Food & Industrial Ingredients, Europe for the second half of the financial year ending 31 March 2007 were expected to be lower than in the same period of the previous year.last_img read more