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 [...]
BEST OF THE BROKERS March 15, 2010 PROVIDENT FINANCIAL Collins Stewart has maintained its recommendation on Provident Financial at “sell”. It said that Provident Financial was trading at the bottom of the trading range and the impact of new consumer policies set out by the government may result in a reduced earnings forecast and may pose a threat to the dividend. Collins [...]
Tate & Lyle faces profits fall as prices are dragged down January 28, 2010 FALLING prices for sweeteners paid by soft drinks companies like Coca-Cola and Pepsi are set to turn profits sour at sugar group Tate & Lyle. Sweetener selling prices in the Americas in 2010 would fall short of those in 2009, meaning overall margins from its US corn sweetener business this year would probably be “slightly below” [...]
T&L ups bond buyback November 24, 2009 Tate & Lyle increased a bond buyback to £100m from a planned £70m after its offer attracted strong demand, the British sugar and sweetener group said yesterday.The bonds were priced at a premium, which the company said was 107.924 per cent or £1,079.24 per £1,000 of bonds. Tate is one of a growing list of [...]
BEST OF THE BROKERS October 27, 2009 MCBRIDEHaving started the year with conservative margin assumptions for McBride, Investec has upgraded these in light of its strong start to full-year 2010. The broker said that the top line performance is broadly as expected, but that a better mix is driving profits ahead. Investec therefore lifted earnings per share estimates in the region of [...]
BEST OF THE BROKERS October 13, 2009 TATE & LYLECredit Suisse raised its forecasts for Tate & Lyle by four per cent for next year and seven per cent for the following year, upped its price target to 550p, from 300p, and upgraded its rating to “outperform”. The broker notes that the starch business is holding up and said that the new [...]