Slip in consumer confidence despite retail sales growth – London Report May 25, 2015 DATA on GDP growth, consumer confidence and house prices are due out this week, and today sees the release of the CBI Distributive Trades Survey. The CBI’s research is expected to show robust retail sales growth in May. GDP growth in the first quarter is likely to be revised up to 0.4 per cent quarter-on-quarter [...]
Best of the Brokers for 27 April 2015 April 26, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com TATE & LYLE Canaccord Genuity reiterated its “buy” rating for the UK multinational food producer. The broker said simplification and greater balance towards higher quality speciality food ingredients should be reflected in improved earnings, and also makes the firm a more attractive potential [...]
The future looks less sour for Tate & Lyle as profits are set to meet expectations April 2, 2015 After a string of profit warnings, Tate & Lyle's financial outlook seems to be stabilising at last. The figures For the full year to 31 March, Tate & Lyle estimates its pre-tax profit will be fall “modestly below” the range of £230m to £245m it predicted in September. The update is based on trading [...]
Best of the Brokers for 17 February 2015 February 16, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com HUNTING Numis has upgraded its recommendation for British oil and gas service provider Hunting from “reduce” to “buy”, after the company said it expected its 2014 financial year results to be in line with expectations. “We now believe the market is ahead of [...]
Inflation report to give clues on rate hike date – London Report February 8, 2015 THE BANK of England’s quarterly inflation report is this week expected to offer an insight into whether historically-low interest rates will be increased this year or next. Howard Archer, of IHS Global Insight, said: “The Bank of England will obviously have to cut its near-term inflation forecasts sharply given that consumer price inflation fell sharply [...]
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 [...]