Tate&Lyle reported on Thursday fourth quarter earnings that missed analysts' forecasts and revenue that topped expectations.
Tate&Lyle announced earnings per share of £0.24 on revenue of £1.41B. Analysts polled by anticipated EPS of £23.11 on revenue of £1,376M. That with comparison to EPS of £0.21 on revenue of £1.37B in the same period a year before.
Tate&Lyle shares are down 16% from the beginning of the year , still down 21.69% from its 52 week high of £811.40 set on February 6. They are outperforming the STOXX 600 which is down 18.29% year to date.
Tate&Lyle follows other major Consumer/Non-Cyclical sector earnings this month
Tate&Lyle's report follows an earnings missed by Imperial Brands on Tuesday, who reported EPS of £0.55 on revenue of £14.67B, compared to forecasts EPS of £103.05 on revenue of £5,889M.
Marks & Spencer had missed expectations on Wednesday with fourth quarter EPS of £-0.05 on revenue of £5.32B, compared to forecast for EPS of £12.32 on revenue of £2.36B.
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