Tate & Lyle operating profit in line

25th Sep 2009 07:02

Tate & Lyle expects operating profit for the half year to be broadly in line with last year but the sugar and sweeteners group cautioned that a number of its markets remain challenging. The group said demand from food and beverage customers has proved resilient, though it has continued to experience challenging conditions in EU Sugar and industrial ingredients.With the majority of sugar sales for the period to 30 September 2010 now contracted with customers, Tate & Lyle is confident of achieving improved margins within its EU Sugar business following the final institutional price change on 1 October 2009.During the second half of the 2010 financial year, it expects a continuation of growth in Sucralose driven by geographic expansion and its long-term customer contracts.'We continue to be encouraged by the resilient demand levels experienced within food and beverage markets,' said the group.'We are encouraged by our overall trading and financial performance in the year to date, although a number of our markets remain challenging,' it added.