LONDON (dpa-AFX) - Tate & Lyle plc (TATE.L, TATYY.PK) reported that its fiscal year Group statutory profit before tax was 16% lower compared to previous year due to net exceptional costs of 58 million pounds. The Group recorded 4% increase in adjusted profit before tax, for the fiscal year period.
For the year ended 31 March 2019, pretax profit was 240 million pounds compared to 286 million pounds, previous year. Earnings per share from continuing operations was 38.6 pence compared to 56.1 pence. Adjusted profit before tax increased to 309 million pounds from 296 million pounds, while adjusted earnings per share was 52.0 pence compared to 49.4 pence.
Fiscal year sales improved to 2.75 billion pounds from 2.71 billion pounds, last year.
Nick Hampton, Chief Executive, said: 'For the year ending 31 March 2020, we expect continuing progress in Food & Beverage Solutions and gains from productivity initiatives to offset both lower Sucralose profits and continued market challenges in Primary Products. As a result we expect earnings per share growth in constant currency to be broadly flat to low-single digit.'
The Board recommended a 0.5 pence or 2.5% increase in the final dividend to 20.8 pence per share. The increased final dividend results in a full year dividend of 29.4 pence per share, up 2.4% on the prior year.
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