Tate & Lyle Posts Drop In FY13 Pretax Profit, Lifts Dividend

Tate & Lyle PLC

reported a fall in its FY13 pretax profit and lifted its final dividend payment. Tate & Lyle's pretax profit for the year declined to 309 million pounds, from GBP379 million, in the year-earlier period. Its adjusted pretax profit surged to GBP329 million from GBP318 million. Its sales rose to GBP3.26 billion from GBP3.09 billion, while net profit declined to GBP277 million from GBP305 million. Tate & Lyle's adjusted diluted earnings per share climbed to 57.0 pence from 54.7 pence. Tate & Lyle's lifted its final dividend by 5.6% to 18.8 pence per share. Tate & Lyle shares closed at $51.32 yesterday.