Tate & Lyle says nine month pre-tax profit in line with expectations

Tate & Lyle has said profit before tax for the nine months to December 31, 2009, before the impact o

The company said that the trading patterns experienced during the first half year have continued, although the group's performance in the third quarter was marginally below its expectations, before the impact of exchange translation, due principally to lower industrial sales volumes in food & industrial ingredients.

According to the company, sucralose, food & industrial ingredients, Europe and sugars each performed in line with its expectations in the quarter. As expected, sugars delivered improved margins following the final institutional price change on October 1, 2009.

The company anticipates sweetener selling prices in the Americas for the 2010 calendar year to be below the level achieved in the 2009 calendar year. The company expects operating profit for the full year to be marginally below the level reported in the comparative period.

Tate & Lyle's offers range of food ingredients such as Splenda Sucralose, Promitor Dietary Fiber, Sta-lite Polydextrose, Fairtrade Sugar and Lyle's Golden Syrup. Tate & Lyle also produces industrial ingredients including Bio-PDO, Ethylex and Sta-Lok paper starches; and staple ingredients such as high fructose corn syrup, sugar, ethanol, citric acid and basic starches.