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Tate & Lyle posted a drop in full-year pre-tax profit as higher costs and a fall in its primary products division took their toll while market conditions remained challenging.
Pre-tax profit slumped 16% to £240m in the year to 31 March while its primary products business fell 11% to £148m.
Looking forward to the next financial year, the company said it expected to see continuing progress in its Food & Beverage Solutions and gains from productivity initiatives to offset both lower Sucralose profits and continued market challenges in Primary Products.
"As a result we expect earnings per share growth in constant currency to be broadly flat to low-single digit," said Chief Executive Nick Hampton.
At 8:40am: (LON:TATE) Tate Lyle PLC share price was -23p at 769p