Tate & Lyle downgraded by Kepler Cheuvreux as it questions ability to beat ‘peak’ 2017/18
Analysts at the broker said they found the longevity of the strong performance in the group's Sucralose and Commodities divisions "highly questionable"
Company
Tate & Lyle PLC
LON:TATE
Tate & Lyle PLC (Tate & Lyle) is engaged in the development, manufacture and marketing of food and industrial ingredients that have been made from renewable sources. The Company operates through four divisions: Food & Industrial Ingredients, Americas; Food & Industrial Ingredients, Europe; Sucralose and Sugars. Tate & Lyle has more than 50 production worldwide. The Company participates mainly in four markets: food and beverage; industrial; pharmaceutical and personal care, and animal feed. On June 15, 2007, the Company acquired 80% of G.C. Hahn & Co. (Hahn). Hahn provides customized ingredient solutions to global customers. On April 22, 2007, the Company disposed of its shareholding in Tate & Lyle Canada (Redpath). On December 28, 2007, the Company disposed of its 49% indirect shareholding in Grupo Industrial Azucarero de Occidente, S.A. de C.V. (Occidente). In July 2008, the Company announced the sale of its international sugar trading operations to Bunge Limited
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Tate & Lyle sees full-year profits rise by nearly a quarter but sales dip slightly
The FTSE 250 food group, and producer of the Splenda sweetener brand reported that pre-tax profits rose 23% to £286mln in the year, while sales dropped 2% to £2.7bn
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Tate & Lyle on track to deliver full-year adjusted profit in line with guidance
The firm said, in Speciality Food Ingredients, the core business delivered good volume growth, including a continuation of modest volume growth in North America
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Tate & Lyle names former Pepsico executive Nick Hampton as new boss
Tate & Lyle's new chief executive Nick Hampton said the company will continue to respond to growing demand for healthier food
Tate & Lyle raises full-year guidance after sweet first half
“We expect underlying adjusted profit before tax in constant currency for the full year to be modestly higher than we anticipated coming into the year driven by the strong first half performance”
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Shareholders have taken their lumps so this was a sweet update from Tate & Lyle
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The bank has cuts its stance on the FTSE 250-listed firm to ‘hold’ from ‘buy’ and reduced its target price for the stock to 725p from 875p