Too much sweetener turns profits sour for Tate & Lyle February 6, 2015 Tate & Lyle has warned investors its full-year profits will be below expectations, after low demand for its sweeteners hurt business in the US during the third quarter. It said an influx of cheaper products from Chinese manufacturers was leading to an oversupply of its own products, and that the fall in sugar prices [...]
Sour first half for Tate & Lyle as profits plummet by 40 per cent November 6, 2014 SUGAR manufacturer Tate & Lyle revealed yesterday that operational and supply-chain disruption had led to a 40 per cent drop in profit in the first six months of the 2014 financial year. Profit before tax fell from £173m to £104m during the period, while sales dropped from £1.5bn to £1.2bn, a 21 per cent decline. [...]
Tate and Lyle share price rises despite plummeting profits November 6, 2014 Shares in Tate and Lyle edged up 0.3 per cent to £6.12 in early trading, even though it posted considerably lower half-year profits than in 2013. In the six months to 30 September, the sugar-based foods company reported a pre-tax profit of £104m – a 40 per cent drop from £173m during the equivalent [...]
Manufacturing figures point to slower growth – London Report November 2, 2014 MANUFACTURING figures due out today are likely to show a loss of momentum in the UK economy’s growth. The manufacturing purchasing managers’ survey for October is forecast to sit at 51.5, the same as for September and weaker than the rates of 52.2 in August and 54.7 in July. A reading of 50 shows no [...]
Profit warning is not sweet for Tate & Lyle September 23, 2014 SHARES in Tate & Lyle plunged to a three-year low yesterday after the food ingredients group warned that supply chain issues in the US and fierce competition in the sweetener market meant full-year profits would be lower than expected. Tate & Lyle said a “severe winter” in the US had disrupted operations at its corn [...]
London Report: New US pharma rules drag down UK drug firms September 23, 2014 THE FTSE 100 took a tumble yesterday as pharma shares were hit by overnight news that the US had announced new rules to reduce the benefits available to its companies buying overseas businesses for tax reasons. The FTSE 100 suffered a 1.44 per cent fall to 6676.08 points, its worst performance since 3 March. Poor economic [...]
Tate & Lyle share price plummets following profit warning September 23, 2014 Tate & Lyle's share price has plummeted 17 per cent in early trading after company sliced its profit outlook for the year. It's a bitter pill to swallow for the foods group, whose Splenda sweetening business is struggling with intense competition and falling prices of sucrose. The company's expected profit for the year had been [...]
Bank veteran Liz Airey to orbit Jupiter Fund Management as chair steps back September 2, 2014 Jupiter Fund Management swapped one investment banking veteran for another yesterday after its chairman was forced to retire due to ill health. Former SG Warburg financer Liz Airey was appointed chairman after incumbent Jamie Dundas, a former Morgan Grenfell banker, was forced to step down. Dundas, who is 63 and also a non-executive [...]
London Report: UK’s second quarter growth and minutes from Bank in focus July 21, 2014 THE first estimate of gross domestic product data for the second quarter is likely to be closely watched after hints of a rate rise later this year. The minutes of the July meeting of the Bank of England’s Monetary Policy Committee will also be of interest, for the same reason, and retail sales figures will [...]
Tate & Lyle names PepsiCo exec Nick Hampton as finance chief June 24, 2014 Sweetner giant Tate & Lyle said yesterday it had hired PepsiCo executive Nick Hampton as its new chief financial officer. Hampton has been at PepsiCo for more than 20 years and was most recently the food and drink company’s president of west Europe. He will take over from Tim Lodge at the beginning of September.