UK sugar and sweetener firm Tate & Lyle has said profit before tax, exceptional items and amortisation of patents for the six months to 30 September was £136m (US$241.8m), a rise of 7% from a year earlier.
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The company said sales of its Splenda Sucralose rose 19%, while its Food & Industrial Ingredients Americas unit recorded profit before interest, exceptional items and amortisation of patents up 20%.
“We have delivered a good start to the financial year despite higher energy and transport costs across our businesses with Food & Industrial Ingredients Americas and
Splenda Sucralose continuing to make good progress. The £100m expansion programme at our Loudon and Sagamore facilities in the USA is underway and on track. Both these investments will increase efficiency, the production of value added products, and will offer significant environmental benefits,” the company said.
“Whilst higher energy and transport costs will continue to impact profitability in the second half of this financial year, we expect the results of the group for the year as a whole to reflect satisfactory progress,” Tate & Lyle added.
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By GlobalData
