Blog: Why the outlook for Tate & Lyle is bittersweet
Dean Best | 15 February 2008
The Tate & Lyle board, accused last year of not doing enough to warn investors about the performance of the company, went to town with its trading update this morning (15 February).
There was a mass of information, certainly more than can usually be expected from a mere trading update.
There was some good news for investors – certainly compared to last year – as the UK sugar refiner said profits were a smidgeon above expectations.
Nevertheless, after a year that was described as Tate’s “annus horribilis”, expectations for the business cannot be as high as they once were.
Tate, which is rightly focusing more on added-value ingredients, saw gains in the US but warned that it is likely to see losses from its core sugar business, casting questions over the company’s future in the sector.
The outlook remains tough for Tate but the broad sentiment is that the company’s fortunes cannot fare any worse than last year.
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