Tate & Lyle annual profit falls amid Ingredion buyout talks

TATE & LYLE PLC reported a 3% decline in annual adjusted core profit to £415 million following weak demand for processed food. The British ingredients maker also saw revenue slip 3% to £2.01 billion, meeting analyst expectations for the fiscal year. The results arrive as the firm evaluates a £2.74 billion ($3.68 billion) takeover bid from a United States competitor.

### Soft Demand and Pricing Pressure Tate & Lyle attributed the decline to subdued demand for packaged goods and lower pricing across major markets. CEO Nick Hampton described the financial performance as disappointing, citing a complex geopolitical landscape and softer market demand than anticipated. The company produces Splenda, a sweetener used by Coca-Cola.