Volume growth and increased sales for speciality ingredients in the US and emerging markets will help Tate & Lyle achieve its expectations for the first half, the global ingredients firm claimed this morning.
The performance in these areas would offset its weaker trade in Europe, said the company in a trading statement for the six months to 30 September 2012.
It added that adjusted operating profit would be in line with expectations and with the year before.
Sucralose had a better second quarter, but overall volumes for the first half will be down, said Tate & Lyle, because of “difficult market conditions” in Europe. It added that, in bulk ingredients, operating profit will be ahead of the year before in both the US and Europe.
In a statement, the company said: “Overall, while recognising the current level of uncertainty around the wider economy and volatile corn markets, we continue to expect to make progress this financial year.”
Tate & Lyle will announce its half-year results on 8 November.