LONDON (Reuters) - Tate & Lyle (L:TATE) reported sharply lower profit and sales for the first half of its fiscal year on Thursday, hurt by supply chain disruptions and increased competition in the market for its Splenda sweetener.
In the six months to 30 September, the British company, which sells ingredients to packaged food and drink makers, saw adjusted profit before tax of 104 million pounds, down 34 percent in constant currency terms from the year-earlier period.
Adjusted sales were 1.38 billion pounds, down 13 percent in constant currency.
Tate & Lyle stood by its full-year forecast of adjusted pre-tax profit for the year to end-March 2015 in the range of 230 million to 245 million pounds.
(Reporting by Martinne Geller in London; Editing by Pravin Char)