Tate & Lyle sees first-half improvement

by Jeff Gelski
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LONDON — Tate & Lyle, P.L.C. expects adjusted operating profit for the six months ending Sept. 30 to be in line with expectations, the company said in a trading update today. Half-year results will be given Nov. 8.

With its Specialty Food Ingredients, Tate & Lyle expects solid growth in the United States and emerging markets to offset a weaker performance in Europe. Sucralose volume grew in the second quarter, but overall first-half sucralose volume will be lower than the previous year’s first half, which included a large volume from customers’ new product launches.

Within Bulk Ingredients, operating profit in this year’s first half is expected to be ahead of last year. The strong performance from liquid sweeteners in both the United States and Europe more than offset challenging market conditions in U.S. ethanol.

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