UK: Tate & Lyle returns to profit, reduces debt
UK sugar and starch group Tate & Lyle returned to profit today [Friday] and said it had slashed its debt by more than a third as it sold underperforming businesses and enjoyed a rebound in starch prices. Tate & Lyle reported profit before tax, but after exceptional items and goodwill, of £159m (US$232m) for the year to 31 March, slightly above analysts' forecast range.
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