Tate And Lyle First Half 2009 Profits
Tate and Lyle have announced pre-tax profits of GBP112 million in its H1 2009 results.
"Tate & Lyle performed slightly ahead of our expectations in the first half of the year, before the impact of exchange translation, despite challenging conditions in a number of our markets," said new CEO Javed Ahmed.
Sales increased by 7% to £1.82 billion. Adjusted operating profit fell by 1% to £148million, with underlying profit before tax down by 13% to £112 million.
Pre-tax profit plunged 59% to £50 million, although most of that was reflected in exceptional costs of £55 million from the decision to mothball the sucralose plant in McIntosh, Alabama.
"Tate & Lyle performed slightly ahead of our expectations in the first half of the year, before the impact of exchange translation, despite challenging conditions in a number of our markets," said new CEO Javed Ahmed.
Sales increased by 7% to £1.82 billion. Adjusted operating profit fell by 1% to £148million, with underlying profit before tax down by 13% to £112 million.
Pre-tax profit plunged 59% to £50 million, although most of that was reflected in exceptional costs of £55 million from the decision to mothball the sucralose plant in McIntosh, Alabama.
