Sugar sales taste sweet for Tate & Lyle

SUGAR company Tate & Lyle has reported a "sound performance" after sales grew by 25 per cent in the first half of the year.

It reported sales of £1.7 billion in the six months to September 30, while profit before tax rose four per cent to £128 million.

The company said it is well-placed to withstand the difficult economic environment, but added that the EU sugar market has been "extremely difficult" due to ongoing reforms, resulting in losses in its refining operations.

Chief executive Iain Ferguson said: "Tate & Lyle performed well."