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Tate & Lyle posts lower earnings, sees tough year ahead

Published 29/05/2014, 07:26
TATE
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LONDON (Reuters) - British food ingredients firm Tate & Lyle (L:TATE) reported lower full-year earnings on Thursday, hurt by a dramatic drop in prices of its sucralose sweetener and weak sales of soft drinks in the United States.

The company said adjusted operating profit was 349 million pounds in the year ended 31 March, down 2 percent from the prior year.

For the new year begun in April, Tate & Lyle said group performance should be "slightly lower" than the prior period, before the impact of currency movements.

(Reporting by Martinne Geller in London, editing by William Hardy)

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