US energy, transport costs weigh on Tate & Lyle's FY earnings outlook

Writer, Stock Market Wire
Thursday, February 7, 2019 - 08:59

British food and beverage supplier Tate & Lyle said Thursday it expected its full-year earnings to be at the lower end of a "mid-single-digit range" due to higher energy and transport costs in North America.

The company said its adjusted pre-tax profit in constant currency for the three months ending 31 December 2018 was ahead of the prior year and left its full-year outlook unchanged.

In both its food and beverage solutions and sucralose sectors, the company reported higher adjusted operating profit in the quarter than seen in the previous year.

However, its primary products business was impacted by weaker demand in North American sweeteners leading to lower volume and an adjusted operating profit below the comparative period.

At 8:59am: (LON:TATE) Tate Lyle PLC share price was +2.8p at 679p

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