Tate & Lyle profits above expectations
Tate & Lyle Plc has said that its pre-tax profit for the four months ended 31 January 2008 was marginally ahead of expectations.
Daimler profit edges up in 2007The sugar refining and sweetener making company said its profits were boosted by strong performance in its ingredients operations in the Americas, which benefited from improved by-product pricing.
Tate & Lyle added that the EU sugar market "remains difficult".
The company said that at constant exchange rates its sucralose sales grew compared to the previous year, however it said profits were lower thanks to higher patent defence and its Singapore plant fixed costs.
In a trading statement Tate & Lyle said that its pre-tax profit from continuing operations was 117 million.
Last year Tate & Lyle issued three profit warnings as a result of high corn prices and the slow growth of its Splenda sweetener.
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