6th Sep 2019 18:45
(Alliance News) - FTSE 250-listed Tate & Lyle PLC on Friday said it will raise prices in its North American food & beverage unit from October 1, citing a rise in production costs.
The ingredients maker said it will implement price increases of up 12% on products including food starches, fibres and high intensity sweeteners.
In North America, the firm's Food & Beverage Solutions unit delivered sales of GBP430 million in its year-ended March 31, up 3.4% from GBP416 million from financial 2018.
The company will release its interim results on November 7.
Shares in Tate & Lyle closed broadly flat at 737.00 pence each in London on Friday.
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