Tate & Lyle has reported a 6% rise in adjusted annual profits driven by double-digit growth in its food and beverage division.
The company on Thursday said pre-tax profits for the year to March 31 rose to £335m from £331m a year earlier. On a statutory basis, profits fell 4% to £283m. Revenue was up 1% to £2.8bn.
Food and beverages profits were up 12% to £177m.
A final dividend increase of 22p a share was declared for a total of 30.8p, up 4.1%.
“The pandemic is accelerating consumer demand for healthier food and drink and with its leading capabilities in sweetening, mouthfeel and fortification, food & beverage solutions is well-placed to capitalise on this trend,” said chief executive Nick Hampton.
