Tate & Lyle sees profit before tax drop to £309m, but expects another year of profitable growth

Agribusiness Tate & Lyle has released full year results for the year ended 31 March (release). The first saw profit before tax fall from £379m to £309m.

Javed Ahmed, chief executive, said:

I am pleased to report that the underlying business continues to perform well and that despite having entered the year facing a number of headwinds we have made progress. The opening of our new global Commercial and Food Innovation Centre in Chicago has significantly enhanced the level of engagement with our customers, and we have also made headway developing the innovation pipeline and bringing new products to market. Looking ahead, we will continue to build on the foundations we have laid and expect to deliver another year of profitable growth.