This content is not available in your region

Tate & Lyle profit up but sales fall

Access to the comments Comments
Text size Aa Aa

LONDON (Reuters) – British food ingredients firm Tate & Lyle <TATE.L> on Thursday reported higher annual profits, helped by gains in all its business units and lower costs.

The company, which sells corn syrup and other ingredients to food and drink makers, said profit before tax rose 23 percent to 286 million pounds in the year ended March 31.

Sales however fell 2 percent to 2.7 billion pounds, hurt by a 10 percent drop in sales of sucralose sweetener.

In recent years, Tate has been putting more focus on specialty food ingredients, which carry higher margins than its much larger and more commoditised business of bulk ingredients.

(Reporting by Martinne Geller; editing by Jason Neely)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on for a limited time.