Sour profits for sweetener-maker
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Manufacturing News, Source : TheManufacturer.com
Published : 31 Oct 2007 10:09
Tate & Lyle, the sugar refiner and sweetener-maker, has experienced a near 20 per cent fall in its half-year profits, to £120 million.
The company attributed the majority of the decrease to the disappointing performance of its commodity business, and suggested that changing exchange rates and rising EU cereal costs may continue to affect profits during the remainder of the year.
Iain Ferguson, chief executive of Tate & Lyle, remained positive despite the fall, saying the company had “a good business within an evolving industry.”
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