Tate & Lyle in upbeat trading September 30, 2010 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 [...]
Tate & Lyle loses its taste for historic sugar-based products July 1, 2010 Tate & Lyle yesterday confirmed plans to sell its European sugar operations to American Sugar Refining for £211m, breaking a 150-year link to sugar in favour of low-calorie sweeteners offering faster growth. The privately-owned US group is buying Tate’s sugar and Golden Syrup business with a perpetual licence to use the Tate & Lyle name, [...]
Tate & Lyle is poised for sale to a US firm June 30, 2010 BRITISH company Tate & Lyle is expected to sell its historic sugars business to US rival American Sugar Refining for around £200m. The deal, which is due to be announced officially today, is likely to cause anger over the loss of yet another UK business – coming, as it does, after the sale of Cadbury [...]
Trio of efficiency experts drafted in to mobilise review of spending June 15, 2010 THE government has appointed cost-cutting stalwarts Sir Peter Gershon, Dr Martin Read and Lucy Neville-Rolfe to advise on tackling waste in public services, the Cabinet Office announced yesterday. The trio will form part of the Efficiency and Reform Group which is charged with finding savings in procurement, property and workforce costs. All three have advised [...]
BEST OF THE BROKERS June 6, 2010 TATE & LYLE Evolution Securities maintains a “buy” recommendation for Tate & Lyle and has upped its target price to 560p. Evo said Tate is a compelling long term turnaround story and that new boss Javed Ahmed appears to have all the credentials to tackle Tate’s issues. Evo said the added spice is that Tate [...]
Profits dip at Tate & Lyle in bitter period May 27, 2010 SUGAR refiner and sweetener group Tate & Lyle yesterday promised a focus on its growing speciality food ingredients under new chief executive Javed Ahmed as the downturn cut annual profit by seven per cent, in line with forecasts. Ahmed is to sharpen his attention on the $30bn (£20.7bn) global market for specialist starches and super [...]
PROMISE OF SWEETER TIMES AHEAD May 27, 2010 Javed Ahmed took the helm at Tate & Lyle last October and is facing a challenging period as investors wait to see how his strategy will bed down.
THE TIPSTER May 23, 2010 BHP BILLITON hosts its AGM on Monday. The decision by the Australian government to impose a 40 per cent tax on mining profits, the rise in the value of the dollar and the general slump in commodity prices has seen BHP Billiton’s shares fall nearly 23 per cent in less than a month. With the [...]
Hedging your dividends April 13, 2010 FOR the first time since 2007 institutional investors are ranking higher dividends as a top priority for investing in equities. According to the latest BofA Merrill Lynch Global Research Report fund manager survey, released yesterday, 27 per cent of fund managers would rather see firms distribute their cash as dividends to shareholders, compared with 23 [...]
Dan Stewart chief heralds a growth era April 6, 2010 ADAM Wilson, the incoming chief executive of broker Daniel Stewart, aims to turn around the ailing business via an aggressive push to raise regional capital around the world, including on the fast-growing US equivalent of the Alternative Investment Market (Aim). Wilson, who previously turned around both Hichens Harrison and Teather & Greenwood before selling both [...]