MARKET REPORT: Tate & Lyle turns sour as it sounds alarm on profits due to pricing pressures and a slow second half

MARKET REPORT: Tate & Lyle turns sour as it sounds alarm on profits due to pricing pressures and a slow second half
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MARKET REPORT: Tate & Lyle turns sour as it sounds alarm on profits due to pricing pressures and a slow second half
Published: Feb, 13 2025 22:00

Summary at a Glance

Elsewhere, Vistry gained 4.3 per cent, or 26p, to 626p as it was revealed that US hedge fund Abrams Capital Management has lifted its stake in the housebuilder to 10.2 per cent from 8.2 per cent.

Driven by rapid expansion in the US and Europe, it has seen strong demand for its LeakBot device, with customers up by around 60 per cent over the past year and full-year revenue forecast to grow by around 70 per cent, and has sealed a contract to pilot the LeakBot in four US states.

Meanwhile full-year earnings growth is seen at the lower-end of its 4 per cent to 7 per cent guidance range.

Coca Cola HBC topped the blue-chip leader board, up 7.4 per cent, or 220p, to 3190p, a new all-time high, as the soft drinks bottler reported strong organic revenue growth driven by sparkling, coffee and energy drinks, led by Monster.

But Thruvision dropped 33.3 per cent, or 1.5p, to 3p after it warned that key contract wins would be delayed until the next financial year, with full-year revenue forecast at £5million to £6million – down from its previous £9million estimate.

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