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UK's Tate & Lyle to hike prices as Middle East conflict drives costs higher

By Reuters News

Nov 5 (Reuters) - British food ingredients maker Tate & Lyle TATE.L said on Thursday it plans to raise prices to help offset higher costs as a result of the extended Middle East conflict.

Here are some details:

  • The company said it intends to offset higher expenses by passing through cost inflation as it renews customer framework agreements for calendar year 2027

  • Tate & Lyle maintained its annual forecast of modest revenue growth and broadly flat operating earnings

  • CEO Nick Hampton said strong first-half growth in Asia Pacific and a robust performance in the Americas helped offset more challenging conditions in Europe, the Middle East and Africa

  • Adjusted pre-tax profit fell 18% to £102 million ($137.6 million), while revenue rose 1% to £1.04 billion in the six months to September 30

  • It expects its $3.6 billion acquisition by US group Ingredion INGR.N to complete in the second half of calendar year 2027


($1 = 0.7413 pounds)

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