UK-based ingredients group Tate & Lyle plc kept its outlook for its financial year after a first quarter when trading was mixed but underlying profits met expectations.

Tate & Lyle said adjusted operating profit for continuing operations for the quarter to the end of June was in line with its estimates.

The company said sales of its speciality food ingredients grew ahead of the market thanks to “strong” growth in Europe and emerging markets. Its performance in the US was “softer” after the cold spring in the country. Lower-than-expected sweetener sales led to lower margins.

Tate & Lyle also noted volumes of bulk liquid sweeteners were lower in the US, although that was offset by a better performance in the EU.

“Our outlook for the year remains unchanged and we continue to expect to deliver another year of profitable growth,” the company said.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.