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.
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.
The share purchase came the day after Tate & Lyle said it has made a sound start to the year and continues to anticipate progress in the current full year.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
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
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.
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
Water companies blocked from using customer money to pay “undeserved” bonuses
The regulator has blocked three water companies from using billpayer money to pay £1.5 million in exec bonuses
By Katie Williams Published
-
Will the Bitcoin price hit $100,000?
With Bitcoin prices trading just below $100,000, we explore whether the cryptocurrency can hit the milestone.
By Dan McEvoy Published