Stock Market News
Tate & Lyle on track for 2018 guidance
Tate & Lyle said on Thursday that it remains on track to deliver full-year adjusted pre-tax profit at constant currency in line with guidance.
In an update for the three months to the end of December 2017, the company said it saw volume momentum in its speciality food ingredients and bulk ingredients divisions. In speciality foods, the core business delivered good volume growth, including a continuation of modest volume growth in North America. In the food systems business, profit improved but volume was lower.
Meanwhile, Tate's Splenda Sucralose business performed as expected, with profit in line with the comparative period. The company said decisions taken in the first half, such as investment in the longer-term development of the business, will moderate profit growth in the second half.
In the bulk ingredients arm, sweetener volume in North America grew and profit growth is currently expected to be "robust" for the year ending 31 March 2018.
Shore Capital said the update contains no surprises and that volume growth across both bulk and speciality foods is encouraging.
"Overall a solid update from Tate, whose stock has been caught up by the weakening dollar trend, as well ongoing speculation around the NAFTA negotiations. We see little in today's update to break out of such constraints for the time being, and reiterate 'hold'."
At 1050 GMT, the shares were down 4.4% to 625p.
In an update for the three months to the end of December 2017, the company said it saw volume momentum in its speciality food ingredients and bulk ingredients divisions. In speciality foods, the core business delivered good volume growth, including a continuation of modest volume growth in North America. In the food systems business, profit improved but volume was lower.
Meanwhile, Tate's Splenda Sucralose business performed as expected, with profit in line with the comparative period. The company said decisions taken in the first half, such as investment in the longer-term development of the business, will moderate profit growth in the second half.
In the bulk ingredients arm, sweetener volume in North America grew and profit growth is currently expected to be "robust" for the year ending 31 March 2018.
Shore Capital said the update contains no surprises and that volume growth across both bulk and speciality foods is encouraging.
"Overall a solid update from Tate, whose stock has been caught up by the weakening dollar trend, as well ongoing speculation around the NAFTA negotiations. We see little in today's update to break out of such constraints for the time being, and reiterate 'hold'."
At 1050 GMT, the shares were down 4.4% to 625p.
Related share prices |
---|
Tate & Lyle (TATE) share price |
Stock News headlines are gathered from financial news sources around the web. Views and opinions on each item are from their respective authors and website. They are not opinions of LiveCharts.co.uk
Get a free widget for your website with our latest headlines.
You can now add our live prices and new headlines to your website.The news widget features quotes for Oil prices, spot Gold price and Indices plus a choice of news channel for healines.
Top Shares pages
- Share price quotes
- Share charts
- Share watch list
- Company Results Calendar
- Top Large UK Shares
- UK Market Sectors
- Stock market news
- Company news
- Share tips
- A-Z company search
More share features
POPULAR Share Prices
- Royal Mail share price
- Lloyds share price
- HSBC share price
- Barclays share price
- Prudential share price
- Santander share price
- NEXT share price
- Diageo share price
- BP share price
- Vodafone share price
- British Airways
- Centrica share price
- Tesco share price
- Taylor Wimpey Share Price
- National Grid
- GKP Share Price
- Marks and Spencer
- Rolls Royce
- Rio Tinto
- THG Share Price
- Aviva Share Price
- Boil Share price
- Easyjet Share Price
- Genedrive Share Price
- SSE Share Price
- IAG Share Price
- Boohoo share price
- HE1 share price
- AVCT share price
- BOOM share price