Tate & Lyle report boosts shares

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Tate & Lyle report boosts shares

Shares in FTSE 250 sugar supplier Tate & Lyle (LON:TATE) sweetened 4.83% to 663.60p (as of 15:30 GMT) after it reported a 3% improvement in adjusted profits before tax for the six months ended 30th September. Revenues for the half year dropped by 4% despite growth in food and beverage solutions.

CEO Nick Hampton commented: “While we are pleased with our progress in this challenging environment, considerable uncertainty remains. The duration and severity of the pandemic is unclear, out-of-home consumption remains below pre-pandemic levels and the annual sweetener contracting round is still to be completed. Given this uncertainty, we are not issuing guidance for the current year ending 31 March 2021“.

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