Blog: Dean BestTate & Lyle's "annus horribilis"

Dean Best | 31 October 2007

This morning (31 October), the affable Tate & Lyle CEO Iain Ferguson was no doubt hoping that he gets more time to turn around the UK group after first-half profits tumbled.

The pressure is on Ferguson to revitalise the business, which saw a 19% fall in earnings over the last six months follow three profit warnings this year.

Rising commodity costs, the weak US dollar and losses from its European sugar business has hit Tate & Lyle. The company has sold off a raft of assets in this year in a bid to reduce the effect the weak dollar is having on the business.

Tate & Lyle is looking to refocus the business on value-added food ingredients and sucralose to boost margins but as you’d expect, Ferguson has faced a lot of flak.

Ferguson insisted this morning that “important progress” has been made in shaking up the business. But, with one analyst calling this year Tate & Lyle’s “annus horribilis”, the Scot must be hoping investor pressure doesn’t force his exit amid a shake-up in the boardroom.


BLOG

Brexit customs "could cost UK traders GBP4bn a year"

As the rain hammers on our windows this afternoon (11 September), a report in the UK offers companies doing international business some gloomy reading - post-Brexit customs could cost the country's tr...

BLOG

Do you get just-food's newsletters? You need to do something

If you receive just-food's newsletters, we have a message....

BLOG

UK consumers to cut back on fruit and veg - and point to Brexit, study says

Whatever your view on Brexit, a piece of research issued today (18 July) in the UK on fruit and veg consumption will likely unite more of you than last year's divisive vote....

BLOG

Cyber attack - another wake-up call for business

A month after an international cyber attack hit entities including the UK's National Health Service and Spanish telecoms giant Telefonica, another has caused havoc around the world, affecting business...

just-food homepage



Forgot your password?