Softer market conditions in Europe and an increase in fixed costs put a dent in half year profits at sweeteners firm Tate & Lyle.
Reported profit before tax in the six months to September 30th tumbled to £172m from £241m the year before, a 28% fall on a constant currency (CC) basis. Adjusted profit before tax, however, which strips out one-off items, rose 2% on a CC basis to £179m from £177m at the halfway point of the previous year.
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