Tate & Lyle in upbeat trading

City A.M. Reporter
Sweetener and starches maker Tate & Lyle said its encouraging start to the year continued into its second quarter giving it confidence it will make progress in its full financial year.

The London-based group progress said growth in its speciality sweeteners and starches remained steady, volume growth for its sucralose sweetener Splenda was robust, while industrial starches and ethanol saw more difficult conditions.

"The encouraging start to the year has continued in the second quarter, particularly within Speciality Food Ingredients, with good operating performance and solid demand in a number of our markets," said Chief Executive Javed Ahmed.

"This underpins our confident that we will make progress in the full financial year," he added in a trading statement.

The group was giving an update for its first-half (April-September) trading ahead of half year results in early November.

The group added it was completing the sale of its EU sugar refining operations.