Tate & Lyle: profits on course

Tate & Lyle, the global sugar and ingredients company, expects end-of-year profit before tax to be in line with its expectations.

In a pre-close statement, ahead of its full-year results on 29 May, the company said it hoped it would continue to see volume and sales growth in its speciality food ingredients market, “with strong volume growth in emerging markets and Europe partially offset by the US”.

In its bulk ingredients division, Tate & Lyle predicted profits for the full year would be lower than expected because of reduced demands in the US soft drinks market and “protracted severe cold weather”.

Tate & Lyle also believes its net debt will be higher at its year-end than the £253m it posted on 31 December 2013.

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