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Tate & Lyle posts 16% drop in FY pre-tax profit, see flat EPS in 2020

By BFN News | 08:40 AM | Thursday 23 May, 2019


Tate & Lyle posted a drop in full-year pre-tax profit as higher costs and a fall in its primary products division took their toll while market conditions remained challenging. Pre-tax profit slumped 16% to £240m in the year to 31 March while its primary products business fell 11% to £148m. Looking forward to the next financial year, the company said it expected to see continuing progress in its 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," said Chief Executive Nick Hampton. At 8:40am: (LON:TATE) Tate Lyle PLC share price was -23p at 769p Story provided by StockMarketWire.com

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