Sugar giant faces US squeeze

Sugar giant faces US squeeze

Tate & Lyle warned that its cereal sweetners and starch operation in the US was facing a squeeze on margins. Sir Neil Shaw, chairman, said corn prices had risen 50 per cent over the past year and it was not yet clear whether the higher costs could be recovered in the current pricing round. Tate & Lyle reported profits of pounds 311m for the year to September, before pounds 25.5m of exceptional items, up from pounds 274m last time.

Investment column, page 22