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British food producer remains steady in challenging Europe

British food manufacturer Tate & Lyle expect continued challenging market conditions in Europe, but say they will make steady growth.

The former owners of the iconic Lyle’s Golden Syrup brand, said strong performance across the US and emerging markets would offset weaker results in Europe.

Difficulties in Europe, together with the impact of strikes in Turkey, and changes to fixed costs for the business were expected in a lower first half operating profit, compared with last year.

US corn prices remain high, particularly due to continued uncertainty about the size and quality of the year’s harvest following severe drought in the mid-west.

Tate & Lyle said it expected demand for its liquid sweetner products to continue in the US, and demand across other food markets to remain stable.

This was posted in Bdaily's Members' News section by Tom Keighley .