12th Sep 2018 14:17
LONDON (Alliance News) - Tate & Lyle PLC said Wednesday it expects annual "single digit" earnings per share growth towards the lower end, due to energy and transport cost inflation.
The company reiterated its outlook for the year ending March 2019 which forecast single digit growth.
The sweetener provider to the food, beverage and industrial markets, said it believes it can realise the growth potential of its business and "grow earnings per share, improve organic return on capital employed, and deliver strong cash generation to support our progressive dividend policy".
The company is also focusing on the delivery of "greater productivity" as it expects USD100 million in productivity benefits over four years.
Tate & Lyle shares were trading down 0.4% at 660.40 pence each. The company is holding a Capital Markets Day over the next two days to update investors on its performance and business plans.
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