Sweet results for Tate & Lyle

Manufacturing News, Source : TheManufacturer.com
Zone : Leadership and strategy
Published : 23 May 2007 10:56
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British sugar firm Tate & Lyle has announced pre-tax profits of £336 million for the year to 31 March – a rise of 14 per cent on last year’s figures.

The company attributed the high prices for ethanol to the performance.

Moving forward, the firm said it will focus on ingredients for soups and sauces.

But the company also warned the partial sale of its European ingredients arm and continued oversupply of sugar in the EU would impact profit in the year ahead.

"During the year we have continued to restructure our portfolio of businesses to help deliver our strategy to grow our business by improving the contribution from value-added products," said Iain Ferguson, Tate & Lyle's chief executive.

 

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