6th Feb 2020 08:17
(Alliance News) - Ingredients supplier Tate & Lyle PLC on Thursday left its full-year guidance unchanged following third-quarter growth in its food & beverage unit.
In the three months to December 31, Food & Beverage Solutions sales climbed year-on-year, with the Tate & Lyle reporting "solid growth" in North America, and the Europe, Middle East & Africa region.
In Asia Pacific and Latin America, the sales rise was slower however, the FTSE 250 firm noted.
In Sucralose, Tate & Lyle's sugar substitute, sales and adjusted operating profit were better than the comparative period, "reflecting good operational performance and the phasing of shipments from the first half into the quarter".
In Primary Products, the division is on track for a "steady" full-year showing.
"The underlying performance of the group was consistent with the first half and in line with our expectations. Our guidance for the year ending 31 March 2020 remains unchanged," the company said.
Tate & Lyle affirmed that its expects earnings per share to grow in low-single digits, at constant currency. In financial 2019 , it reported basic earnings per share of 39.2 pence, and diluted EPS of 38.6p.
Shares in the company were 0.9% higher at 808.15p each in London in early dealings on Thursday morning.
By Eric Cunha; [email protected]
Copyright 2020 Alliance News Limited. All Rights Reserved.
Related Shares:
Tate & Lyle