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CORRECTED-Tate & Lyle posts lower profit in line with its guidance
May 28, 2015 / 6:21 AM / 2 years ago

CORRECTED-Tate & Lyle posts lower profit in line with its guidance

(Corrects date in second paragraph to March 31)

LONDON, May 28 (Reuters) - British food ingredients maker Tate & Lyle reported adjusted full-year profit in line with its forecast on Thursday and signalled that the restructuring it is undertaking will yield fruit over time.

The company, which sells sweeteners and other ingredients to global packaged food and drink makers, said group adjusted profit before tax fell 30 percent to 224 million pounds ($344 million) in the year to March 31, in line with its February guidance.

Its adjusted sales fell 14 percent to 2.69 billion pounds.

Tate & Lyle last month announced a major restructuring, saying it would exit most of its European bulk ingredients business and make changes to its struggling Splenda sucralose unit.

$1 = 0.6512 pounds Reporting by Martinne Geller in London; Editing by Pravin Char

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