Tate & Lyle non-exec takes a spoonful of

Douglas Hurt, a non-executive director at Tate & Lyle, bought shares in the sugar and sweetener producer after an upbeat trading statement.

In his first purchase of shares in the company, he took 5,000 at 471.7p a time, paying a total of £23,585.

MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

However, despite some improvement in demand, industrial starch margins are expected to remain at lower levels and the group continues to see little near term improvement in US ethanol markets.

In its speciality food ingredients division, demand patterns for speciality sweeteners and starches have remained steady from 1 April to 30 June and the group has continued to experience solid growth in sucralose sales volumes.

Earlier this month Tate & Lyle announced that it is selling its EU sugar refining operations to American Sugar Refining for £211m. The sale includes the company's cane sugar refinery and Golden Syrup factory in London.

Hurt joined the Tate & Lyle board in March. A chartered accountant, he is also the finance director of IMI, an engineering and pneumatics company.

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.