Archive Article: 2000/07/28

28 July 2000

Second warning from Tate & Lyle

TATE & LYLE, the worlds biggest sugar company has issued its second profit warning in four months, reports The Independent.

The company blamed worsening conditions in the US sugar market. Tate & Lyle shares fell nearly 13p to 271.5p on Thursday (27 July), says the paper.

The Daily Express reports company chairman David Lees as saying that he expects profits in the first half of this financial year to fall below the 82m achieved in the six months to March.

Mr Lees predicted improved profitability in the second half, but not enough to offset the first half performance.