Outlook stays sweet for Tate & Lyle

29th Sep 2011 07:12

Sweeteners group Tate & Lyle expects to perform in line with expectations over the full year after a strong performance in the six months to 30 September.In the speciality food ingredients division, corn-based speciality sweetener and starch volumes grew in line with the market, the firm said. In the bulk ingredients division, US corn sweeteners benefited from good domestic demand and a continuing firm market for corn sugar in Mexico. In Europe, the anticipated squeeze in sweetener margins from higher corn prices has been partially offset by higher volumes, the company said."Overall, and before the gains made during the first half from co-products and any impact from currency movements, our expectations for the full year remain unchanged and we continue to anticipate another year of profitable growth," the company said.Tate & Lyle said it had paid half of the £45m it previously agreed to pay into its main UK pension scheme. ---RG