Tate & Lyle cautious after cost hikes

British sugar and starch group Tate & Lyle today posted a 19.8% rise in pre-tax profits to £224m (€336.5m), but said rises in the cost of wheat and corn would impact on the current financial year.

London-based Tate said a strong US business performance in local currency terms had helped it chalk up a “satisfactory” overall result for the year to March 31.