Growth in Tate & Lyle remains 'steady'Sweetener and starches manufacturer Tate & Lyle has predicted it will make progress this year. "In our Speciality Food Ingredients division, demand patterns for speciality sweeteners and starches have remained steady," the company was reported by Reuters as saying. "We have also continued to experience solid growth in sucralose sales volumes." Tate & Lyle's bulk ingredients sector saw higher year-on-year volumes in corn sweeteners in the three months to the end of June. Industrial starch margins have been "marginally lower" over the past quarter, and the company does not expect to see any near-term improvement in the US market. "Overall, we continue to anticipate progress in the current full financial year," the company said. At the beginning of the month, Tate & Lyle sold a large proportion of its sugar operations to US company American Sugar Refining for £211 million. Javed Ahmed, Tate & Lyle’s new chief executive, plans for the company to focus more on higher-margin speciality ingredients rather than solely sugar. Posted by Jason Webster  | | ||||||||||||||||||||
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