Tate & Lyle who make Splenda sweetener has announced that its annual profits would be “modestly below” the forecast it reported in September. The range it suggested was between £230 million to £245 million.
The company has been valued at £2.7 billion and has been struggling for the past year with stock falling 23%.
The firm has been hit by a harsh winter in the US in 2014 which hit corn production, used in many of the firm’s sweeteners.
Tate & Lyle’s production issues are said to be “short-term issues” that could sorted out with “correct business planning”.
