Tate & Lyle to finalise plan for Splenda this month
LONDON, April 2 (Reuters) - Tate & Lyle (LSE: TATE.L - news) said on Thursday a project to evaluate how best to maximise returns from its Splenda sucralose was reaching conclusion and would be finalised with the board this month.
The British food ingredients firm also stood by its lowered full-year outlook, reflecting a performance that has been hurt by intense competition for sucralose and production disruptions caused by last year's harsh winter in the United States.
The company, which also sells corn syrup and industrial starches, said group adjusted profit before tax for the year ended March 31 would be "modestly below" the 230 million to 245 million pound range it had forecast in September, a message it had given in February.
That was its third profit warning in a year. (Reporting by Martinne Geller; Editing by David Holmes)