Tate & Lyle in line

Sweeteners group Tate & Lyle said first half adjusted operating profit will be similar to last year's level, in line with expectations.

The group said it saw an improved performance in the second quarter in its Speciality Food Ingredients business.

Within Bulk Ingredients, operating profit is expected to be ahead of the comparative period with a strong performance from liquid sweeteners in both the US and Europe more than offsetting ongoing challenging market conditions in US ethanol. Income from co-products returned to more normal levels during the period.

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"Overall, while recognising the current level of uncertainty around the wider economy and volatile corn markets, we continue to expect to make progress this financial year," the group said.

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JH