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Tate & Lyle says supply-chain issues will hit profit

Britain's Tate & Lyle said significant disruption to its supply chain and increased competition for its Splenda sucralose sweetener in its second quarter would hit annual profit.

The company said on Tuesday it expected to incur additional costs of about 20 million pounds in its second quarter, taking the total for the first half to 40 million pounds, plus an additional 10 million pounds in the second half.

The additional costs meant it now expected group adjusted profit before tax for full year to be in range of 230 to 245 million pounds.

Shares opened down over 16 percent on Tuesday.

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