Tate & Lyle sells plant March 31, 2011 SWEETENERS and starches maker Tate & Lyle sold a mothballed US ethanol plant in Iowa to Cargill yesterday, and reported a performance in line with expectations before a corn co-product boost to income. The London-based group, which makes sweeteners like Splenda, starches and ethanol, said it had sold the Fort Dodge plant for $57m (£35m). [...]
Tate & Lyle to meet expectations February 1, 2011 Tate & Lyle expects to make progress for its full-year after seeing broadly similar margins, having fixed prices for its 2011 North American pricing round for its corn sweeteners and starches. The company also said yesterday that it had raised the price of its corn sweeteners by up to a fifth to offset soaring corn [...]
FTSE 100 falls back as bank, mining and retail stocks slide January 19, 2011 BANKING and mining stocks weighed on London’s top share index yesterday as concerns over the global economic recovery resurfaced, while sentiment among retailers was dented after some disappointing updates. The FTSE 100 closed down 79.73 points, or 1.3 per cent lower at 5,976.70, ebbing away from Tuesday’s fresh 31-month high. “The market moved a long [...]
Goldman earnings prompt FTSE sell-off January 19, 2011 A surprisingly sharp sell-off on the FTSE this afternoon pushed the index below the 6,000 mark, to close down 79.73 points or 1.32 per cent, at 5,976.70. A bigger than expected fall in earnings at leading US investment bank Goldman Sachs sparked a rout among investors across all sectors. Earlier in the day, more bad [...]
Tate & Lyle unit sold for £67m November 25, 2010 TATE & Lyle yesterday sold off the last of its historic British sugar businesses – offloading its molasses distribution arm for £67m. Northern Irish commodities group W&R Barnett has bought the unit in cash, and Tate & Lyle says it will use the proceeds to pay down its net debt. The molasses business had annual [...]
Taylor Wimpey begins £250m bond offering November 22, 2010 HOUSEBUILDER Taylor Wimpey rounded off its refinancing plan yesterday by announcing a new £100m debt facility and plans to sell £250m of five-year bonds. The news follows on from the firm’s £950m credit facility, which was announced last week as the last act by outgoing chief financial officer Chris Rickard. Prudential’s M&G UK Companies Financing [...]
Figures sweeter for Tate & Lyle November 4, 2010 Tate & Lyle yesterday beat forecasts with a 21 per cent rise in half-year profit and said it was confident for the full-year. The sweeteners firm posted adjusted pre-tax profit of £136m for the six months to the end of September. Chief executive Javed Ahmed said: “In addition to good operational performance and steady demand [...]
NAB sees UK profits double October 27, 2010 THE owner of Clydesdale and Yorkshire Banks announced a rise in full year pre-tax profits of over 50 per cent yesterday after it advanced £4.7bn in mortgages and wrote down fewer bad debts. National Australia Bank (NAB) said lending had been subdued in the year to 30 September but that it was “firmly on track” [...]
BEST OF THE BROKERS October 3, 2010 LEGAL & GENERAL Legal & General has confronted the UK life industry’s strategic challenges, transforming both its product range and cash flow, according to UBS. The broker maintains a “buy” recommendation and says that the fruits of this are now evident and the company has answered the existential questions that still vex some peers. TATE [...]
Tate & Lyle is sweet on 2010 September 30, 2010 SWEETENER and starches maker Tate & Lyle said it expects annual profit to rise, after building on an encouraging start to the year over the summer. Chief executive Javed Ahmed said he expects “progress” in full-year pre-tax and operating profits, driven by growth in the speciality sweeteners and starches business including its sucralose sweetener Splenda. [...]