May 23, 2019 / 6:31 AM / 2 months ago

Tate & Lyle posts lower FY profit, sees flat EPS growth in 2020

May 23 (Reuters) - British food ingredients maker Tate & Lyle reported lower full-year pretax profit on Thursday and said it expected earnings per share growth to be broadly flat in the low-single digits for 2020.

The company said statutory pretax profit fell 16% to 240 million pounds ($303.48 million) for the year ended March 31, weighed down by higher costs and a weak performance at its primary products business which consists of high-volume sweeteners, industrial starches and fermentation products.

$1 = 0.7908 pounds Reporting by Tanishaa Nadkar in Bengaluru; Editing by Bernard Orr

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