Tate & Lyle Posts 28% Drop In H1 Pretax Profit, Lifts Dividend

Tate & Lyle PLC TATYY reported a 28% drop in its first-half FY13 pretax profit and lifted its dividend. Tate & Lyle's sales for half year rose to GBP1.63 billion, from GBP1.54 million, in the year-ago period. Its operating profit dropped 26% to GBP187 million, from GBP255 million. Tate & Lyle's adjusted profit before tax rose 2% to GBP179 million from GBP177 million. Tate & Lyle shares closed at $46.85 yesterday.