LONDON (dpa-AFX) - Tate & Lyle Plc (TATYY.PK, TATE.L) provided update for the year ending March 31, 2012.
The company noted that it has delivered a solid performance during the final quarter in line with the company's expectations, which consolidates a good performance for the full financial year.
According to Tate & Lyle, in Speciality Food Ingredients, it achieved good sales value growth with volume growth across all major product categories. The company stated that profits are going to be weighted towards the first half as a result of SPLENDA Sucralose volume growth reverting to more normal levels and the costs associated with restarting its McIntosh facility in the second half.
Within Bulk Ingredients, sweetener volumes have remained strong with isoglucose margins improving in Europe during the second half on the back of higher sugar prices. Besides, during the year, Tate & Lyle benefited from firmer industrial starch margins in Europe despite market conditions having started to soften recently against the backdrop of a more challenging macro-economic environment.
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© 2012 AFX News
